SoFi Bank has announced the launch of international money transfers via the Bitcoin Lightning Network, starting with Mexico. This service allows users to send money abroad at a low cost.
What Does This Mean for SoFi Bank Users?
The new feature will allow SoFi’s 11.7 million members to send money abroad at lower costs compared to traditional remittance methods. All transactions will be conducted within the SoFi app without the need for third-party services.
The company expects fees to fall below the national average, with all rates and costs disclosed upfront to ensure transparency.
SoFi Bank and Lightspark Partnership
The core of SoFi’s new service is Lightspark’s Universal Money Address (UMA), which enables users to send and receive funds using simple, email-like identifiers. The system converts U.S. dollars to Bitcoin in real-time, sends the BTC through Lightning channels, and converts it again into the recipient's local currency.
Funds are directly deposited into the recipient’s bank account without requiring them to hold or manage crypto. At launch, the feature will be available for transfers to Mexico, with plans for expansion to other countries.
SoFi's Return to the Digital Asset Sector
SoFi is re-entering the crypto space nearly two years after regulatory challenges forced it to step back from the market. In 2023, customers witnessed the winding down of services due to regulatory pressures, but a change in the regulatory landscape has opened up new opportunities.
In April 2025, CEO Anthony Noto confirmed SoFi's renewed interest in crypto and plans to integrate blockchain solutions across various company products.
Thus, the launch of international transfers on SoFi Bank's platform using Bitcoin Lightning technology opens up new possibilities for both users and the bank's return to the digital asset market.
