Sofi Technologies (Sofi) Will soon be allowed payment payments in addition to Bitcoin Layer-2 Lightning Network thanks to a partnership with Lightspark, aimed at providing real-time international monetary transfers to its members.
Fintech based in San Francisco will integrate the universal monetary address of Lightspark (Uma)which takes place on the Lightning network of Bitcoin, to facilitate almost moments cross -border payments, Sofi announced on Tuesday.
Lightning is a layer-2 network designed to help achieve Bitcoin’s original vision of becoming a global and peer-to-peer digital species. By creating a network of out -of -chain payment channels, it bypasses slow transaction times and high costs of the main Bitcoin blockchain, allowing instant and high volume micropaies. This scalability layer could transform Bitcoin into a practical support for daily transactions, making it a viable alternative to traditional payment systems.
The Sofi discounts, which should be deployed later this year, will allow users to send US dollars via the SOFI application, recipients receiving local currency deposits abroad.
The Lightspark UMA gives access to a global payment rail designed for speed and scale. Transfers will display initial exchange rates and costs, addressing long -standing pain in the traditional funding services, Sofi said in Tuesday’s announcement.
The launch follows Sofi’s back to school in the crypto, after stopping the services in 2023 during its transition to a national bank. Earlier this year, he revealed plans to offer international funds via blockchain and stablecoins and allow users to invest in crypto.
