Overview

• Transfers will convert U.S. dollars to bitcoin in real time, route over the Bitcoin Lightning Network using Lightspark’s UMA, then reconvert to local currency for deposit into recipients’ bank accounts.
• The rollout is slated for later in 2025 with Mexico as the first corridor, followed by a phased expansion to additional countries.
• The feature will run 24/7 inside the SoFi app without third‑party remittance platforms, showing exchange rates and fees before users send.
• SoFi says total costs will be below the national average remittance fee (World Bank cites 6.49% as of March 2025), with exact pricing varying by amount and destination.
• The bank is described as one of the first in the U.S. to integrate Lightning and UMA for in‑app remittances, a move that follows its 2025 return to crypto services and comes as Section 4475’s exemptions may keep such transfers outside the 1% remittance tax.