June 16, 2023CBDC

Boom Collaborates with the Bank for International Settlements to Create a Framework for Central Bank Digital Currency Utility

Paris, FRANCE / London, ENGLAND June 16, 2023

Boom (“Boom”) today announces that it has recently concluded a collaboration with the Bank for International Settlements (“BIS”) Project Rosalind, spearheaded by the Bank of England, that explored various usecases for extending the utility of retail Central Bank Digital Currencies (“CBDC”).

Based on a two-tier distribution model with central banks at the foundation of the retail CBDC system and customer-facing activities carried out by private sector Payment-Interface-Providers (“PIP”), Project Rosalind explored how this interface could best enable a central bank ledger to interact with PIPs to safely provision retail payments.

Thanks to its native currency, the Boomcoin (“BMC”), Boom enables everybody to fund their wallets with cash or CBDCs and buy, sell and pay for everything online, without requiring a financial institution as an intermediary for payment processing.

visual-bis

Boom, as a PIP, showcased how retail CBDCs could be used to fund the Boom wallet, enabling consumers, merchants and corporates to transact internationally, B2B, B2C, C2C, in their local retail CBDC.

The final report on the initiative, released on 16 June 2023, concluded that “Project Rosalind demonstrated that a well- designed API layer can enable a central bank ledger to interact with private sector service providers to safely provide retail CBDC payments.” Other participants include Amazon, Revolut and Thales Group.

"We are excited to have demonstrated the versatility of Boom to the Bank for International Settlements and showcase it’s ability to have user wallets funded with cash, decentralised cryptocurrencies and CBDCs for goods and services payments worldwide", stated Peter Alfred-Adekeye, founder, Boom and Chairman Boom.

About Bank for International Settlements

Headquartered in Basel, Switzerland, the Bank for International Settlements is the bank of central banks. Its primary goal is to foster monetary and financial stability through international cooperation among central banks. Learn more at bis.org

To learn more about Boom, please visit boom.market

About BIS Innovation Hub

The BIS Innovation Hub develops public goods in the technology space to support central banks and improve the functioning of the financial system. Project Rosalind specifically aims to develop prototypes for an application programming interface to distribute retail CBDC. Learn more at BIS Innovation Hub

Boom is a permission-less, token-based membership and the Boomcoin (BMC) is its governance token. 1 BMC, 1 vote. To learn more about Boom, please visit boomdao.org

About Boom

1.7 billion adults have no access to banking.. They have never bought, sold or paid for anything online despite having an annual purchasing power of over $5 Trillion. They are called the unbanked. In October 2022, Boom launched as an e-commerce ecosystem that enables everybody to buy, sell and pay for everything online without requiring financial institutions as trusted intermediaries for payment processing.

Boom is enhancing the way we transact globally for the better by enabling financial inclusion for all, real-time settlements as well as asset and transaction transparency, powered by its open-source token, the Boomcoin (“BMC”) and advanced ledger technology. Learn more at boom.market

About Boom

Boom is a decentralised community-driven organisation that oversees the Boom ecosystem which comprises of the Boom e-commerce super-app for the unbanked, Boomswap, a decentralised, self-custody token exchange and Boom Foundation, a non-profit focused on impact investments for social good using its grant of 50 million Boomcoins.

e-commerce
without banking

Developers

Legal

Whether it’s ordering a pizza or booking your next holiday, all online payments require a bank account—yet over 2 billion adults worldwide remain unbanked, limiting their participation in the digital economy. They rely solely on cash, which cannot be spent online.

Boom Technologies Ltd (“Boom”) bridges this gap by digitising cash and connecting it to the global digital economy, empowering everyone to securely spend, accept, and save cash online—without ever needing a bank, while maintaining robust compliance with AML/KYC regulations. Each transaction is traceable, verified, and compliant with local and international financial regulations.

Digital assets are generally subject to high volatility, regulatory uncertainty, and operational risk. Users should conduct their own due diligence and may wish to seek independent financial advice before engaging in any digital asset activity.

Tokenised Cash on Boom — including the tokenised GBP (bGBP) — should not experience volatility because they are backed 1:1 by GBP-denominated reserves held in-country for the benefit of bGBP holders. These reserves are managed in a Boom Reserve Fund, custodied by regulated financial institutions, and may consist of short-term Government bonds, gold, Bitcoin, and cash.

Boom Technologies Ltd, registered in England & Wales (Company No. 15034868), is not a bank, does not operate as one, and does not intend to become one. Boom is not authorised or regulated by the UK Financial Conduct Authority (FCA).

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).

BOOM Technologies (UK) Ltd © 2025 All Rights Reserved