Sofi Partners With Lightspark to Launch Lightning-Enabled International Money Transfers

CN
3 hours ago

The service will utilize technology from Lightspark, which leverages the Bitcoin Lightning Network and Universal Money Address (UMA) to facilitate seamless transactions across an open global payment network. Sofi aims to be one of the first U.S. banks to offer a blockchain-powered remittance service, enhancing the financial lives of members who regularly send money internationally. The service will initially be available for transfers to Mexico, with plans to expand to additional countries shortly after launch. Sofi’s platform will provide full transparency on exchange rates and fees, ensuring a cost-effective and user-friendly experience for its members.

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