Welcome to The Protocol, CoinDesk's weekly wrap-up of the most important stories in cryptocurrency tech development. We’re Margaux Nijkerk & Jamie Crawley, reporters at CoinDesk.

In this issue: • Nasdaq-Listed SoFi Taps Bitcoin Lightning for Remittances • Bitcoin DeFi Project Enters Solana with BTC-Backed Token YBTC • Valantis Acquires stHYPE, Expanding Liquid Staking Reach on Hyperliquid • Hyperbeat Secures $5.2M Backing From ether.Fi, Electric Capital

Network News

SOFI TAPS BITCOIN LIGHTNING FOR REMITTANCES: SoFi Technologies will soon allow remittance payments on top of the Bitcoin layer-2 Lightning Network through a partnership with Lightspark, aiming to bring real-time international money transfers to its members. SoFi's remittance product, which is expected to roll out lat

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