SoFi Technologies is set to launch a remittance service using the Bitcoin layer-2 Lightning Network in partnership with Lightspark. This service aims to facilitate real-time international money transfers, allowing users to send U.S. dollars via the SoFi app, which recipients can convert to local currencies abroad through Lightspark's Universal Money Address (UMA). The rollout, expected later this year, will provide upfront exchange rates and fees to alleviate the inefficiencies of traditional remittance systems. This initiative marks SoFi's return to the crypto space after having paused services during its transition to a national banking charter. The article also touches on other developments in the crypto sector, such as Bitlayer's entry into Solana with a BTC-backed token, YBTC, and Valantis's acquisition of stHYPE to enhance liquid staking on Hyperliquid. Additionally, Hyperbeat has secured $5.2 million in funding to improve yield infrastructure on Hyperliquid. The crypto industry continues to evolve with strategic partnerships and technological advancements.

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