Safety & Trust
The average bank holds less than 10% of your deposit in reserve. Boom holds 100% — backed by sovereign government bonds — always.
The Banking Problem
When you deposit cash at a bank, you are making a legal loan to that institution. The bank becomes the owner of your money. You receive a liability — a promise to pay you back — and you become an unsecured creditor.
Banks keep only a fraction of deposits on hand and lend the rest to other customers. If a meaningful percentage of depositors withdraw at once — a bank run — the bank cannot meet its obligations.
The 2008 global financial crisis required over $700 billion in emergency government intervention to prevent systemic collapse. In 2023, Silicon Valley Bank, Signature Bank, and First Republic all failed within weeks of each other.
The assumption that banks will always meet their obligations is the largest unexamined risk in personal finance. Boom was built on the understanding that this assumption is no longer acceptable.
Side by Side
Traditional Bank
Boom Wallet
| What You Care About | Traditional Bank | Boom Wallet |
|---|---|---|
| Ownership | Bank owns it | You own it |
| Reserve kept | ~3–10% | 100% — always |
| Backing asset | Mixed (loans, securities) | Sovereign bonds only |
| Can be frozen | Yes, unilaterally | No |
| Spending limits | Daily and monthly caps | None |
| Earn on balance | Near-zero interest | Sovereign bond yield |
| Settlement speed | T+2 (2 business days) | <3 seconds |
What Backs Your Money
Every Boom wallet balance is matched 1:1 by a sovereign government bond — debt issued by a national government and backed by its full taxing and monetary authority.
What Are They
Sovereign bonds are legally binding commitments by national governments to repay principal plus interest. US Treasury Bills, UK Gilts, and German Bunds are examples. The most creditworthy assets in the financial system.
Why They're Safe
Unlike bank deposits, sovereign bonds are backed by the full taxing power of a nation-state. No major sovereign bond issued in domestic currency has ever defaulted. Every central bank uses them as reserve assets.
Your Yield
The bonds backing your Boom wallet earn interest. That interest is passed directly to you as yield on your balance — not kept by Boom. Your money works for you.
Open a free Boom wallet. 100% sovereign-bond backed. 100% controlled by you.
No bank account needed · Open in 60 seconds · Free forever