Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
SoFi will roll out a Bitcoin-powered international money transfer service inside its consumer app, becoming—per Lightspark CEO David Marcus—“the first US bank to use Bitcoin and Universal Money Addresses (UMA) to offer 24/7, realtime, cheap global payments.” The integration uses the Bitcoin Lightning Network as the cross-border settlement rail and will debut later this year, with Mexico as the first corridor.
First US Bank Plugged Into Bitcoin Lightning
Trending: ALERT: Democrat Governor Declares State Of Emergency
In its announcement on August 19, SoFi said members will be able to send funds abroad directly from the SoFi app “with lower fees and faster delivery compared to traditional remittance service providers.” Technically, dollars are converted to Bitcoin in real time, routed
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!