SoFi Bank’s Bold Leap: Bitcoin Lightning Sparks International Transfers! 💸⚡

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In a world where the mundane meets the miraculous, SoFi Bank has chosen to dance with the digital, embracing Bitcoin’s Lightning Network to orchestrate low-cost international money transfers, with Mexico as its first partner in this grand waltz later this year. Who knew sending money could be so electrifying? ⚡

  • SoFi Bank, in a twist of fate, will harness the power of Bitcoin’s Lightning Network to unveil a global remittance service. Because why not? 🌍
  • This service, powered by Lightspark’s Universal Money Address, allows users to send dollars abroad with a flick of the wrist and real-time Bitcoin conversion. Talk about magic! 🎩✨

In a partnership that was announced on the fateful day of August 19, SoFi Bank will offer near-instant cross-border payments, converting U.S. dollars to Bitcoin faster than you can say “blockchain” and transmitting them via Lightning rails. It’s like sending money through a wormhole! 🕳️

Once the funds arrive, they magically transform into the recipient’s local currency and land safely in their bank account. This marks a historic moment, as it’s the first time a U.S. bank has integrated blockchain-based remittance capabilities directly into its core banking app. Who needs a crystal ball when you have technology? 🔮

What does this mean for SoFi Bank users?

For SoFi’s 11.7 million members, this new feature is akin to finding a golden ticket in a chocolate bar. They can now send money abroad at a fraction of the cost of traditional remittance channels. All transactions will occur within the SoFi app, eliminating the need for third-party services. It’s like having your cake and eating it too! 🎂

The company confidently predicts that fees will plummet below the national average, with all exchange rates and costs laid bare upfront. Transparency is the name of the game, folks! 🕵️‍♂️

SoFi CEO Anthony Noto, in a moment of poetic inspiration, declared that this new service aims to make a “meaningful improvement” for customers who regularly send money abroad. Because who doesn’t want to feel meaningful? 🌟

“By embedding this directly into SoFi’s app, we’re unlocking the value of blockchain technology to give members faster, smarter, and more inclusive access to their money,” he proclaimed, as if he were unveiling a masterpiece. 🎨

SoFi Bank and the Bitcoin Lightning Partner

The technical heart of SoFi’s new service beats with Lightspark’s Universal Money Address (UMA), allowing users to send and receive funds using simple, email-like identifiers. It’s like sending a postcard, but with a lot more zeros! 📬💰

When a user initiates a transfer, the system performs a dazzling conversion of U.S. dollars into Bitcoin in real-time, sends the BTC through Lightning channels, and converts it again into the destination country’s currency. Funds land directly in the recipient’s bank account without requiring them to hold or manage crypto. It’s like magic, but with less smoke and mirrors! 🎩✨

At launch, this feature will be available for transfers to Mexico, with more countries planned in a phased expansion. SoFi assures us that this phased rollout ensures consistency and security from day one. Because who doesn’t love a good plan? 📅

SoFi’s return to the digital asset sector

SoFi is making a grand re-entry into the crypto space, two years after regulatory headwinds forced it to retreat. It’s like a phoenix rising from the ashes, but with more paperwork! 🔥📄

The digital bank didn’t walk away from crypto in 2023 by choice; it was more of a forced vacation due to mounting pressure from regulators. By November, customers were asked to transfer or liquidate their holdings, and services shut down shortly after. Talk about a dramatic exit! 🎭

However, a change in tone from U.S. regulators opened the door to a comeback. In April 2025, CEO Anthony Noto confirmed SoFi’s renewed interest in crypto, announcing plans to integrate blockchain solutions across lending, investing, payments, and protection products. It’s like a second chance at love! 💖

As previously reported by crypto.news, the bank restarted spot cryptocurrency trading on its platform in June. And just like that, SoFi is back in the game, ready to take on the world! 🌎

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2025-08-20 10:18