PANews August 20 report, according to CoinDesk, SoFi Technologies announced that it will launch a global remittance service using the Bitcoin Layer-2 Lightning Network in collaboration with Lightspark. Users can initiate remittances in USD within the SoFi app, and the recipient will receive the funds in local currency. The service integrates Lightspark's Universal Money Address (UMA), supports real-time cross-border transfers, displays exchange rates and fees, and is expected to go live later this year. This product launch marks SoFi's return to the cryptocurrency space after pausing related operations in 2023 and re-entering the blockchain remittance market.