What is BoomFi?

BoomFi is a next generation crypto payment processor, enabling businesses to accept cryptocurrencies across a wide range of blockchains and currencies in a compliant and safe manner. Businesses can accept one-time payments, recurring payments, metered and invoicing available through our no-code, low-code and SDK/API options. Businesses can settle funds in your preferred crypto wallet or bank account, seamlessly bridging fiat and crypto economies.

The founding story

BoomFi was founded in London in 2023, co-founded by serial tech entrepreneur Jack Tang and fintech executive Michael Si. The dual first ferried into the Crypto industry in 2017 where they started exploring its diverse use cases. The potential for crypto in payments stood out. Both imaged a world where people and businesses could benefit from a more efficient, cost-effective, and improved system for payments, fostering real-time cash flow.

The way we pay for things and send/receive money in the future will involve crypto rails and bridging traditional and decentralised systems. But today it’s riddled with a mirage of complexities and challenges.

Despite its vast potential, crypto adoption for payments has been slow due to hurdles such as blockchain scalability issues, suboptimal UX, and regulatory challenges. But they now firmly believe the industry is turning a corner.

Recent progress has been nothing short of transformative - from the resolution of scalability issues via Layer 2 chains and new Layer 1s to a whopping 47x rise in stable coin adoption since the onset of COVID. Coupled with ongoing improvements in UX and an increasing openness among merchants towards accepting crypto (60% according to WorldPay), they witness these developments as strong indicators of an impending shift in the crypto world, from the era of speculation to that of utility.

BoomFi was founded to erase the complexities traditionally associated with crypto transactions with the goal of enabling a million businesses and merchants to accept digital currencies by 2028.

The platform offers a suite of solutions that enables businesses to accept payments for any pricing model, whether it's a one-time payment, checkout, recurring payment, metered, or invoice. Using BoomFi, businesses can accept cryptocurrencies across any chain and a wide range of tokens, using a range of no-code pay links, low-code widgets, and SDK/API solutions. Crucially, businesses will be able to choose to settle their payments in crypto or fiat in real-time, efficiently bridging the gap between the two methods.


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