SoFi Technologies announced it will become the first US bank to integrate the Bitcoin Lightning Network and Universal Money Address (UMA). The bank partnered with Lightspark to launch its new payment service.
The service will start later in 2025, beginning with Mexico, according to the announcement on Tuesday. It targets the global remittance market, which reached $740.5 billion in 2024.
SoFi CEO Anthony Noto said on X,
“For many SoFi members who regularly send money to loved ones internationally, the ability to quickly transfer money at low cost isn’t just a convenience, it’s a meaningful improvement to their everyday financial lives.”
How SoFi Will Use Bitcoin UMA
The new Bitcoin UMA service allows users to convert US dollars into Bitcoin in real time. The funds will then move across borders through the Bitcoin Lightning Network. Recipients will receive the payment directly in their local bank accounts, in their national currency.
Lightspark’s UMA provides users with an address similar to an email for sending and receiving money. This makes transfers faster while keeping them simple to use. Lightspark was founded in 2022 by David Marcus, who previously served as president of PayPal.
SoFi said transaction costs will be below the current national average. The app will display exchange rates and fees before users confirm payments. The service will run 24/7 for SoFi’s 11.7 million members.
Coinbase Adopted Bitcoin Lightning in 2024
The move follows Coinbase’s adoption of Lightspark’s Bitcoin Lightning infrastructure in April 2024. The exchange launched the feature to enable instant and low-cost Bitcoin payments.
Within 12 months of the launch, 15% of Bitcoin transactions on Coinbase were processed through Lightning. The company reported these figures in April 2025, showing that adoption of Bitcoin Lightning increased quickly.
Nubank Delays Bitcoin Lightning Rollout
In June 2024, Brazilian neobank Nubank announced a partnership with Lightspark to provide Bitcoin Lightning payments to its 100 million customers in Latin America.
However, Nubank has not confirmed when the Bitcoin payments will be fully available. This delay has kept SoFi in position to become the first bank to implement Bitcoin Lightning and UMA for international money transfers.
