SoFi launches international money transfer service using blockchain

The leading digital finance company in the United States, SoFi, is set to launch a groundbreaking international money transfer service, utilizing blockchain technology and the Bitcoin Lightning Network. This new service promises to deliver a faster, cheaper, and more transparent experience for users.

How it works and benefits

Expected to be rolled out by the end of this year, the money transfer service of #SOFI will convert USD to Bitcoin, then immediately convert it to local currency and send it directly to the recipient's bank account.

This combination offers numerous outstanding benefits:

Lower fees: Significantly reduced costs compared to traditional money transfer services.

Faster speeds: Transactions occur almost instantaneously, operating 24/7.

Transparency: Users will clearly know the exchange rate and total fees to be paid before executing the transaction.

Global expansion

SoFi will launch this service first in #mexico , before expanding to many other countries around the world. This move not only helps SoFi expand its market but also strengthens the position of cryptocurrencies as a practical solution to global financial issues.

The fact that a large and reputable financial company like SoFi officially integrates blockchain into its core service is an extremely positive signal for the entire cryptocurrency market. It shows that blockchain technology is no longer just an idea, but has become an effective tool that top financial institutions trust and apply to solve real-world challenges. #anh_ba_cong