PANews reported on August 20th, according to CoinDesk, that SoFi Technologies will launch a global remittance service leveraging Bitcoin's Layer-2 Lightning Network through a partnership with Lightspark. Users can initiate remittances in US dollars within the SoFi app, and recipients will receive the funds in their local currency. The service, which integrates Lightspark's Universal Money Address (UMA), supports real-time cross-border transfers, displaying exchange rates and fees, and is expected to launch later this year. This product launch marks SoFi's return to the crypto space, marking its renewed focus on blockchain remittances after suspending related services in 2023.