SoFi Technologies has partnered with payments startup Lightspark to enable fast, low-cost cross-border payments using Bitcoin, offering a real-world example of how the world’s largest cryptocurrency can function beyond speculation.
The fintech company announced that it will integrate Bitcoin payments through the Lightning Network directly into the SoFi app, starting with transfers between the United States and Mexico. The move targets one of the largest and most expensive payment corridors in the world.
SoFi, which serves more than 12.6 million members, said the service will allow users to send money internationally at lower cost and faster speeds than traditional remittance providers.
The system works by converting U.S. dollars into Bitcoin, routing the funds across the Lightning Network, and then converting the Bitcoin into the recipient’s local currency for deposit into their bank account. Lightning is a layer-2 scaling solution designed to improve transaction speed and reduce fees without settling each transfer on Bitcoin’s base layer.
The U.S.–Mexico corridor alone accounted for roughly $63 billion in remittances in 2024, a market long criticized for high fees and slow settlement times. By targeting this corridor first, SoFi is testing whether crypto-based infrastructure can compete with legacy payment rails.
Lightspark, founded in 2022 by former Meta executive David Marcus, provides the backend infrastructure that connects financial institutions across borders. Mexico will be the first launch market, with additional countries expected if adoption proves strong.
For Bitcoin, the partnership represents a meaningful step toward utility-driven demand. The asset has historically been viewed primarily as a store of value or speculative investment, but Lightning-based payments highlight its ability to move value efficiently at scale.
If adoption grows, other financial institutions may follow a similar path, potentially increasing transaction volume and reinforcing Bitcoin’s relevance in global finance.
Bitcoin’s price has risen nearly 23,000% over the past decade, but critics have long questioned whether it offers practical value beyond price appreciation. Use cases like cross-border payments could help reshape that narrative.
Whether the feature gains traction will depend on user experience, cost savings, and reliability. For now, SoFi’s move suggests that Bitcoin’s role in everyday finance may be entering a more practical phase.
