Boom DeFi Ecosystem ("Boom"), a leading decentralized finance platform focused on e-commerce without traditional banking, has announced a three-year strategic partnership with the Financial Times (FT). The collaboration aims to spotlight the entrepreneurial journeys of individuals and businesses lacking access to the global financial system through a multimedia initiative called The Unbanked Entrepreneur.
The initiative is designed to tell the stories of over a billion adults worldwide who are unable to transact and trade digitally. According to Sebastiano Moschini, Boom's global head of partnerships, the partnership will help capture the untapped market these unbanked entrepreneurs represent.
FT's global advertising director, Danny Aldred, noted that the partnership is purpose-driven and will address significant issues around financial inclusion. The initiative will showcase entrepreneurial spirit globally and highlight the importance of including unbanked individuals in the digital economy.
In a bid to expand its customer base, the FT plans to allow unbanked adults to subscribe to its services using BoomPay, an online payment gateway that facilitates transactions for those without traditional banking access.
Boom is working towards creating a revolutionary e-commerce environment for billions of consumers and businesses without access to traditional banking. By connecting trillions of dollars in cash to the global digital economy, Boom enables secure online transactions for unbanked individuals, allowing them to store, move, exchange, send, receive, and spend their cash on goods and services worldwide.
The Boom ecosystem is underpinned by the Boom blockchain, which serves as the layer 1 payment rails, and includes the Boom superapp and Boomswap at layer 2 for value exchange. The ecosystem's native asset, Boomcoin, facilitates transactions, while the Boom Foundation focuses on deploying crypto-for-social-good initiatives.
This partnership marks a significant step in bridging traditional and decentralized finance, aiming to provide financial services to a broader audience and promote economic inclusion on a global scale.
