October 03, 2024Blockchain

Introducing Boom Credit Score

Making credit accessible for everyone

Billions rely on cash, lacking a banking history for loan assessments. Boom Credit Scores provides a free system that rates your repayment likelihood from 1% to 100%.

A higher score helps you access loans, rent property, lease equipment, and secure better insurance rates. Since cash payments don’t build credit, always pay and be paid through the Boom app to improve your chances of securing loans.

Because your Boom Credit Score is globally available on the Boom blockchain, you will be able to access credit from third-party lenders worldwide.

You can view your score in your Boom Wallet in the latest app release, available in both app stores.

Regards,
The BOOM Team

e-commerce
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Developers

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Whether it’s ordering a pizza or booking a holiday, every online payment has relied on the global banking system — leaving over 2 billion adults, holding $33 trillion in cash, unable to participate. At the same time, the banking system often lacks resilience, with outages disrupting global payments.

Boom digitises cash into stablecoins, bridging the offline and online economies and enabling anyone, anywhere to spend, accept, and save money online — securely, instantly, and without a bank account.

Each Boom stablecoin, including bGBP, is 100% backed by GBP reserves held and managed in-country by regulated financial institutions and invested in short-term government bonds, ensuring stability, transparency, and compliance from day one.

Boom Technologies Ltd is registered in England and Wales (No. 15034868). Boom Markets Ltd is registered under SCUML (No. SC151839892) in accordance with the Money Laundering (Prevention and Prohibition) Act, 2022.

Over 2 billion adults worldwide remain unbanked, limiting access to the digital economy. Most online payments require a bank account, but many still rely on cash, which can’t be used online.

Boom Technologies Ltd (“Boom”) digitises cash, enabling anyone to securely spend, accept, and save it online—without needing a bank account. Transactions are verified, traceable, and compliant with AML/KYC standards.

While digital assets involve volatility and regulatory risk, Boom’s tokenised GBP (bGBP) is backed 1:1 by GBP reserves held by regulated custodians. These may include government bonds, gold, Bitcoin, and cash.

Boom is not a bank and is not authorised or regulated by the UK Financial Conduct Authority (FCA).

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