SoFi Partners with Lightspark to Power Blockchain-Enabled International Money Transfers
SAN FRANCISCO--(BUSINESS WIRE)--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 net
Related Questions
How will the Lightspark partnership affect SoFi's revenue growth and margin expectations for international transfers?
What competitive advantages does this blockchain-enabled service provide compared to other fintech and traditional remittance players?
What regulatory or operational risks could arise from using the Bitcoin Lightning Network for cross-border payments?