SoFi (NASDAQ: SOFI) announced its upcoming international money transfer service, enabling members to send funds abroad directly from the SoFi app with lower fees and faster delivery compared to traditional remittance service providers. Lightspark, a leading enterprise infrastructure provider that uses the Bitcoin Lightning Network, will enable the technology via Universal Money Address (UMA), to send and receive money seamlessly, with access to an open global network for payments. SoFi will be one of the first US-banks to offer a blockchain-powered remittances service.

“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,” said Anthony Noto, SoFi CEO. “By embedding this directly into SoFi’s app, we’re unlocking the value of blockchain technology, to give members faster, smarter, and more inclusive access to their money.”

“SoFi is one of the most innovative and forward-thinking financial platforms in the US today," said David Marcus, CEO and co-founder of Lightspark. "Digital banks are embracing UMA because it's fast, cheap, and secure, and it uses the only open payments network that exists, Bitcoin. UMA on SoFi means customers can move dollars instantly, any time, globally, and we're excited to see the demand via SoFi's waitlist, proving that people are ready for the future of payments.”

SoFi’s international money transfer service will launch later this year. SoFi will be one of the lowest cost platforms to transfer money internationally, with the total costs being below the current national average. To ensure full transparency, exchange rate and fees will be displayed up front, before members hit send. The service will be available 24/7 directly on the SoFi app, without needing to use a third-party app.

How it Works

SoFi’s new international money transfer service, powered by UMA, converts U.S. dollars to Bitcoin in real-time and routes funds across borders using the Bitcoin Lightning Network. The funds are then instantly converted back into local currency and delivered directly to the recipient’s bank account in the destination country's local currency.

Lightspark powers a global network of partner banks and financial platforms. This gives senders and recipients a seamless and secure transfer experience with a financial platform they know and trust.

At launch, SoFi’s international transfer service will first be available in Mexico with more countries to be added shortly after launch. This phased approach ensures speed, security, and consistency for members from day one, with even more countries to follow.

SoFi’s international money transfers will be available through SoFi Checking & Savings later this year. SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. Members can sign up to join a waitlist to receive access to SoFi self-serve international money transfers later this year.

About SoFi

SoFi Technologies (NASDAQ: SOFI) is a one-stop shop for digital financial services on a mission to help people achieve financial independence to realize their ambitions. Over 11.7 million members trust SoFi to borrow, save, spend, invest, and protect their money – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Fintechs, financial institutions, and brands use SoFi’s technology platform Galileo to build and manage innovative financial solutions across 160 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.

About Lightspark

The Internet has open protocols for everything, except money. Lightspark is changing that. We're building modern, always-on payment solutions powered by Bitcoin: the only open, neutral network for moving value. With enterprise tools like Connect, UMA, and Spark, businesses can send and receive money instantly, securely, and at a fraction of the cost, anytime, anywhere. Follow on X @lightspark

©2025 SoFi Technologies, Inc. All rights reserved.

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