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SoFi Technologies, Inc. (SOFI) saw its stock decline 3.84% to $23.30 by mid-day on Monday.

SoFi Technologies (SOFI)

The company will integrate the service into its Checking & Savings product, allowing users to send funds abroad at low cost. Lightspark, a Bitcoin Lightning Network infrastructure provider, will enable the backend technology through Universal Money Address (UMA). This collaboration positions SoFi among the first U.S.-based banks to embed blockchain directly in its remittance operations.

The new service uses Bitcoin on the backend, but users only see U.S. dollars and local currencies in the app. The funds are converted to Bitcoin in real-time and transferred over the Lightning Network. Once received, the Bitcoin is converted back into the destination country’s local currency and deposited instantly.

Partnership With Lightspark Brings Lightning Network Into SoFi App

SOFI partnered with Lightspark to enable real-time currency conversion and fund routing. UMA, Lightspark’s human-readable protocol, allows users to send money using easy-to-remember identifiers. The entire process bypasses traditional intermediaries and settles transactions in seconds.

$SOFI 🚨BREAKING NEWS 🚨

SoFi Technologies Inc. Partners with Lightspark to Launch Blockchain-Enabled International Money Transfers pic.twitter.com/MgRn3BwI1m

— stock goat (@kylewhitegoat) August 19, 2025

The system operates 24/7 and will initially support international transfers to Mexico. SoFi plans to add more countries gradually to maintain stability, speed, and security.

Lightspark’s infrastructure connects banks and platforms globally, facilitating seamless cross-border payments. Its CEO, David Marcus, described Bitcoin as the only open global payments network. This collaboration represents a real-world application of Lightspark’s vision for blockchain in financial services.

Service to Offer Transparent Fees and Lower Costs Than Traditional Providers

SoFi’s transfer feature includes a fully transparent fee structure, with costs shown up front before confirmation. Total transfer costs will be lower than the national average, providing a competitive alternative to legacy remittance services. This initiative aims to offer both speed and savings to SoFi’s user base.

Users will not need a separate app or external platform to access the service. Transfers will be handled directly within the SoFi app interface. Members can now join a waitlist for early access, with full availability expected later this year.

This feature expands SoFi’s banking capabilities while positioning the company at the forefront of digital finance. As other fintech firms explore similar integrations, SoFi’s head start could set a new standard in remittance. The stock may have dipped, but the move signals a long-term strategy toward innovation in financial infrastructure.

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