SoFi (NASDAQ: SOFI) is entering the blockchain-powered payments sector with the launch of an international money transfer service built on the Bitcoin Lightning Network. The move positions SoFi as one of the first U.S. banks to integrate blockchain technology directly into consumer remittances.
The service, set to roll out later this year, will allow SoFi members to send funds abroad at lower costs and with faster settlement compared to traditional providers. The transfers will be powered by Lightspark’s Universal Money Address (UMA), a system that enables instant cross-border payments using Bitcoin’s Lightning Network
🚨BREAKING: SoFi has become the first U.S. bank to integrate Bitcoin Lightning and UMA, enabling faster and more efficient cross border payments.$BTC pic.twitter.com/aLRNmZw4T2
— DeFi Planet (@PlanetDefi) August 20, 2025
Here’s how the system works: U.S. dollars are converted into Bitcoin in real time, routed across the Lightning Network, and then instantly settled back into local currency in the recipient’s bank account. This blockchain-enabled process removes the need for third-party intermediaries, cutting costs and significantly reducing transfer times.
Anthony Noto, CEO of SoFi, said the integration is designed to ease the burden of high fees and long delays often faced by members who regularly send money overseas.
“By embedding this directly into SoFi’s app, we’re unlocking the value of blockchain technology to give members faster and smarter access to their money,”
Noto stated.
The service will debut in Mexico before expanding to additional markets. Exchange rates and fees will be disclosed upfront, with SoFi projecting overall costs below the current national average for remittances. The platform will operate 24/7 within the SoFi app, giving users direct access without relying on external services.
Lightspark CEO David Marcus described UMA as a gateway to the “only open payments network that exists, Bitcoin,” noting that SoFi’s adoption demonstrates growing demand for blockchain-based financial infrastructure. With the launch, SoFi aims to set a new standard for low-cost, blockchain-enabled banking services in the U.S.
Meanwhile, Solana’s blockchain network reached a technical breakthrough over the weekend, recording more than 100,000 transactions per second (TPS) during a high-volume stress test. The figure confirms Solana’s capacity as one of the fastest blockchains currently in operation.
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