SoFi Set to Launch Blockchain-Powered Global Transfers

SoFi, a Nasdaq-listed digital financial platform, has announced plans to introduce an international money transfer service later this year. The new feature will allow members to send funds abroad directly through the SoFi app, with lower fees and faster settlement compared to conventional remittance providers. The initiative will position SoFi among the first U.S. banks to offer a blockchain-powered remittance service.

The technology underpinning this service is enabled by Lightspark, an enterprise infrastructure provider that leverages the Bitcoin Lightning Network. The transfers will operate via the Universal Money Address (UMA) system, which enables seamless sending and receiving of money while granting users access to an open global payments network.

A Step Toward Inclusive Banking

SoFi indicated that many of its members rely on international money transfers to support family and friends abroad. The company suggested that reducing costs and speeding up transactions would offer a significant improvement to the everyday financial lives of these users. Embedding the feature directly within its mobile app is intended to provide members with a simpler, more inclusive, and more efficient way to access their money globally.

Lightspark, the technology partner, emphasized that digital banks have begun adopting UMA because of its speed, security, and affordability. The system uses the Bitcoin Lightning Network, regarded as the only open payments infrastructure with global reach. According to the company, SoFi customers will be able to move dollars instantly and securely across borders at any time of day, demonstrating growing consumer readiness for blockchain-based payment solutions.

Transparent and Always-On Transfers

The new transfer service is expected to be among the most cost-efficient options available in the U.S. market, with fees positioned below the national average for international remittances. To ensure transparency, exchange rates and fees will be displayed upfront before any transaction is confirmed.

Members will also benefit from 24/7 availability, eliminating the need to rely on third-party applications. The service will be integrated directly into SoFi Checking & Savings accounts, which are provided through SoFi Bank, N.A., a member of the FDIC. Interested users can join a waitlist to gain early access once the feature is rolled out.

How the Technology Works

The transfer process is powered by UMA and the Bitcoin Lightning Network. U.S. dollars are converted into Bitcoin in real time and then routed across borders. At the destination, the funds are instantly converted back into local currency and deposited into the recipient’s bank account.

Lightspark facilitates this network by connecting a range of partner banks and financial platforms worldwide. This ensures that senders and recipients have a seamless and secure experience, while relying on financial institutions they already know and trust.

Phased Rollout and Future Expansion

The service will initially launch in Mexico, with additional countries to be added shortly afterward. SoFi explained that this phased rollout is intended to ensure security, reliability, and consistent performance from day one. More countries are expected to be integrated into the platform as the service matures.

With this step, SoFi is not only expanding its product suite but also signaling the broader adoption of blockchain-based payments in mainstream banking. By combining affordability, transparency, and accessibility, the company aims to position itself as a leader in modern remittance solutions.