SoFi is set to become the first US bank to integrate the Bitcoin Lightning Network and Universal Money Address (UMA) technology for international money transfers. This move aims to provide its members with faster, cheaper, and more transparent cross-border remittance services. The integration is made possible through a partnership with Lightspark, an enterprise infrastructure provider specializing in blockchain solutions.

The new service will be integrated directly into the SoFi app, allowing users to send funds abroad seamlessly. SoFi's international money transfer service will convert U.S. dollars to Bitcoin in real-time and route the funds across borders using the Bitcoin Lightning Network. The Bitcoin payment will then be converted back into local currency and delivered directly to the recipient's bank account in the destination country. This entire process bypasses traditional intermediaries, settling transactions in seconds.

Initially, the service will be available for transfers to Mexico, with plans to expand to additional countries shortly after the initial rollout. SoFi claims that its international transfer service will offer costs below the current national average, with exchange rates and fees displayed before transactions are confirmed. The service will be available 24/7 through SoFi Checking & Savings.

SoFi's CEO, Anthony Noto, has emphasized that embedding this technology directly into the SoFi app unlocks the value of blockchain technology. He also noted that for many SoFi members who regularly send money to loved ones internationally, the ability to quickly transfer money at a low cost isn't just a convenience but a meaningful improvement to their everyday financial lives.

Lightspark's UMA facilitates the implementation of SoFi's blockchain-enabled service, allowing seamless transactions. Lightspark's CEO, David Marcus, highlighted UMA's benefits, including speed, affordability, and security, facilitated by Bitcoin's open network.

This move positions SoFi as one of the first U.S.-based digital banks to integrate blockchain-based payments for cross-border transfers. SoFi joins the ranks of other international digital banks, such as Brazil-based Nubank and UK-based Revolut, in working with Lightspark to enable blockchain-powered real-time payments.

Despite the relaunch of crypto services, SoFi's stock saw a sharp drop on August 19, 2025, trading down by over 6%. However, the company has shown remarkable growth with revenue increasing by 29% year-over-year. SoFi also announced a $1.5 billion public offering of common stock, pricing 71,942,450 shares at $20.85 each.