Legal
Last updated: June 2026 · Boom Technologies Ltd
In these Terms of Service: "Boom" means Boom Technologies Ltd, registered in England and Wales. "Services" means the Boom digital wallet, Boomcoin settlement network, BoomPay payment acceptance tools, and any related products accessible at boom.market or via the Boom mobile applications. "Wallet" means the digital account created by a User within the Boom platform. "Boomcoin" means the sovereign-backed stablecoin network used to route and settle value within the Boom ecosystem. "User" means any individual or entity that has completed account registration and accepted these Terms.
To open and use a Boom wallet, you must be at least 18 years of age, have the legal capacity to enter into binding contracts, not be located in a jurisdiction where access is prohibited by law, and successfully complete Boom's KYC identity verification process. Boom reserves the right to refuse service to any individual or entity at its sole discretion, including where required by applicable law.
Each individual or business may hold only one Boom wallet per legal identity. You are responsible for maintaining the security of your account credentials and for all activity conducted through your wallet. Boom does not store your private cryptographic keys and cannot recover access to your wallet if keys are lost. You agree to provide accurate and complete information during registration and to update it if it changes.
Boom is not a bank. Your Boom wallet is a non-custodial sovereign-backed digital wallet. Boom does not accept deposits in the banking sense, does not lend funds, and is not subject to banking regulation. Boom is currently in discussions with regulators to establish an appropriate regulatory framework for its innovative model.
Your Boom wallet holds balances denominated in one or more supported currencies, represented as sovereign-backed stablecoin positions on the Boomcoin network. Each unit of balance is matched 1:1 by a corresponding sovereign bond held by Boom Technologies Ltd.
Boom maintains a portfolio of short-term sovereign government bonds equal to 100% of all customer wallet balances at all times. Boom does not hold customer funds in banks. To avoid exposure to banking defaults, all backing assets are held directly as sovereign securities, not as deposits with commercial banks.
Sovereign bonds held to back customer wallets generate periodic interest income. Boom passes the net yield from these bonds to wallet holders as an automatic credit to wallet balances. Yield rates are variable and reflect prevailing sovereign bond rates in each currency. Boom does not guarantee any specific rate of return. Earned yield is taxable income in most jurisdictions. You are responsible for your own tax obligations.
The Boom platform may be used for lawful purposes including: holding and managing funds in supported currencies; sending and receiving payments to other Boom wallet holders; purchasing goods and services from merchants that accept BoomPay; accepting payments as a merchant via BoomPay; cross-border remittance to recipients in supported countries; and treasury management and cross-border settlement for corporate users.
You must not use the Boom platform for: money laundering, terrorist financing, or any activity that violates applicable AML/CFT laws; evading economic sanctions; fraud, identity theft, or impersonation; funding illegal goods or services; market manipulation; circumventing transaction limits or identity verification requirements; or providing false KYC documentation. Boom reserves the right to immediately suspend any account and report suspected violations to the relevant authorities.
Opening and maintaining a Boom wallet is free. Boom earns revenue primarily from the spread between sovereign bond yield and the yield passed to wallet holders, and from merchant transaction fees on BoomPay settlements. Where fees apply to specific services, they will be clearly disclosed before the transaction is initiated.
The Boom platform, including all software, design, content, trademarks, and the Boomcoin protocol, is the intellectual property of Boom Technologies Ltd and its licensors. The BoomPay SDK is open source and licensed under the MIT License.
You may close your Boom wallet at any time by withdrawing your full balance and requesting account deletion. Boom may suspend or terminate your account without notice if you have breached these Terms, engaged in prohibited activities, or if required by applicable law. Upon termination, any balance remaining will be available for withdrawal for 90 days.
To the fullest extent permitted by applicable law, Boom Technologies Ltd shall not be liable for any indirect, incidental, special, consequential, or punitive damages. Boom's total liability for any claim shall not exceed the amount held in your Boom wallet at the time the claim arose. Nothing in these Terms excludes liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded by law.
These Terms are governed by the laws of England and Wales. Any dispute shall be subject to the exclusive jurisdiction of the courts of England and Wales. Boom reserves the right to update these Terms with 30 days' notice of material changes.
For questions about these Terms, contact: legal@boom.market · Boom Technologies Ltd, England and Wales · boom.market