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$SOFI SoFi and Lightspark to Revolutionize Cross-Border Transfers Using Blockchain Technology
🚨JUST IN: @READY_CO INTRODUCES BITCOIN-BACKED LOANS WITH INSTANT $USDC ACCESS VIA READY CARD

SoFi Technologies Inc. said it will introduce blockchain-enabled international money transfers in its mobile app through a partnership with payments start-up Lightspark. The service, slated to launch soon, will use Lightspark’s open-source Universal Money Address protocol and the Bitcoin Lightning Network to convert U.S. dollars into Bitcoin and deliver funds abroad before settling into local currency, a process the company says will cut fees and speed up delivery compared with traditional remittance providers. The San Francisco-based digital bank, valued at about $30 billion, plans to begin with transfers from the United States to Mexico and expand to additional corridors. Lightspark chief executive David Marcus called the move the first time a U.S. bank has embedded Bitcoin’s Lightning rails directly into consumer remittances, enabling 24-hour, real-time payments. SoFi shares gained approximately 1.4% in pre-market trading after the announcement.