#SoFi Becomes First U.S. Bank To Launch
$BTC Lightning Payments
SoFi Technologies is set to become the first U.S. bank to integrate
$BTC Lightning Network for international transfers through a partnership with Lightspark. The service launches later this year, starting with Mexico remittances for SoFi's 11.7 million members.
The solution converts USD to
$BTC in real-time, routes funds via Lightning Network, then delivers to recipients' local bank accounts in their native currency. SoFi targets the $740.5 billion global remittance market with costs "below the current national average."
Lightspark's Universal Money Address enables email-like transfers while leveraging Bitcoin infrastructure. The company, founded by former #PayPal president David Marcus, already powers 15% of Coinbase's
$BTC transactions through #Lightning rails.
The 24/7 service offers full fee transparency before transactions. While Brazilian neobank Nubank partnered with Lightspark in June 2024 for 100 million customers, their
$BTC payments haven't launched yet, making SoFi the first operational #fintech bank deployment.
