Blog/BoomFi 2.0: Your Partners for the Future of Payments
BoomFi 2.0: Your Partners for the Future of Payments
Businesses today no longer operate in the siloed market. Interacting and expanding products and services to global customers and clients is imperative for growth and survival. As if growing and operating the businesses is not already hard enough, from products to marketing to daily operations, they also face extra burdens relating to payments. These payment challenges are unfortunately rooted in legacy processes, fragmented infrastructure, and excessive intermediation that cost hundreds of billions from small and medium-sized businesses (SMBs). The problem is clear: Our traditional payment system (TradFi) is flawed and inefficient, eroding business profits and consumer trust.
BoomFi’s role and mission to become a universal payment partner for SMBs is more urgent and relevant than ever. In this article, we will reaffirm BoomFi’s role as a trustworthy crypto payment partner and explain how we are well-positioned for the future of payments.
The Ascendance of Stablecoins in Global Payments
At the time of this writing, stablecoins’ market cap stood at $220.57 Billion, moving more than $2.14 trillion in the last 30 days, representing 1.06% of the M2 supply of USD. Stablecoin also has more than 24 million monthly active addresses. We discussed the breakthrough of stablecoin last year and its shifting power in pushing crypto’s narrative from pure speculation assets to practical utilities here. Indeed, by mapping the value of fiat currencies onto the blockchain, stablecoins bridge the gap between cryptocurrencies and the real-world financial system, becoming an important component of the global payment infrastructure.
2024 and early this year witnessed major catalysts for Stablecoin’s growing adoption:
- Stripe’s $1.1 billion acquisition of Bridge, signaling fintech giants’ strategic pivot toward stablecoin integration.
- Stripe partnered with Coinbase Commerce, allowing merchants to provide crypto payments and users to buy crypto instantly with credit cards and Apple Pay.
- PayPal intends to use stablecoin for merchant payments, encouraging 20 million merchants that use PayPal to accept cross-border payment with its stablecoin -PYUSD
All these integrations and partnerships showcase a strong foundation for onchain/crypto payment solutions, which is underpinned by the practical innovation of stablecoins. However, the sector still suffers numerous challenges rooted in the current TradFi system.
The Inefficiencies of TradFi
In traditional financial systems, tools like credit cards, trade financing, and cross-border payments greatly facilitate global payment applications by providing liquidity and financing options. Despite its sheer importance as the backbone of the global economy. TradFi is still riddled with inefficiencies that stifle the growth of SMBs and merchants:
- Excessive and Opaque Costs: Research found that 92% of European banks are not transparent about their currency conversion fees. Traditional cross-border payments incur 3–6% fees through intermediaries like SWIFT, draining $210B annually.
- Settlement Delays: Cross-border transfers take 2–5 days, creating $180B in lost time value annually and over-reliance on the pre-funded liquidity model, which requires $4 trillion locked in globally.
- Manual Processes and Errors: Fragment manual reconciliation across disjointed payment systems increases operational costs by 20% and error rates by 15%.
- Fraud & Chargebacks: Losses from credit card fraud will reach $165.1 billion by 2032, according to the Federal Trade Commission (FTC).
This goes without saying; these inefficiencies highlight the need for more effective solutions.
The rise of PayFi
The PayFi (Payment Finance) was introduced by Lily Liu, the chairwoman of the Solana Foundation. This sector represents a paradigm shift in global financial infrastructure, merging decentralized finance (DeFi), real-world asset (RWA) tokenization, and blockchain-based payment rails to unlock the time value of money (TVM). By leveraging blockchain technology and stablecoins, PayFi reduces settlement times and transaction costs. In addition to addressing TradFi’s shortcomings, solutions related to PayFi unlock greater access to payment financing for businesses and individuals across global markets, effectively creating new markets for financial use cases.
According to Statista, the global digital payment transaction value is expected to reach around $20.37 trillion in 2025 and could grow to $37 trillion by 2029. Mordor Intelligence estimated the DeFi market will be $51.73 billion in 2025 and $87.09 billion by 2030, with a CAGR of 10.98%. CGV research conservatively estimated that if PayFi captures only 10% of the digital payment market by 2030, it could reach $3.7 trillion, significantly surpassing the DeFi market's estimated $87 billion size, highlighting PayFi’s strong market potential in digital payments.
The Future of payment is the Convergence between TradFi and PayFi.
The blockchain payment, as an emerging industry, does not necessarily mean a complete departure from the current system or require a complete market overhaul; rather, it can offer more valuable and complex products and solutions built on existing markets at a fraction of the cost through blockchain technology. In other words, PayFi is not an independent concept but an innovative application that integrates Web3 payment (Stablecoins), DeFi, and RWA, which then seamlessly supports and integrates into the existing financial system - TradFi.
In this same context, BoomFi exists and thrives: We abstract the technicality and let merchants and businesses enjoy the benefits of crypto rails in the most efficient and cost-saving manner.
How does BoomFi position?
Thanks to PayFi, the future of payment will keep evolving. Crypto payment literacy, stablecoins, and DeFi adoption are also gaining more retail traction. However, this doesn’t diminish the role of a payment infra partner that allows businesses of all types to accept and pay with cryptocurrencies seamlessly and effortlessly.
Our original thesis still holds: While merchants are clearly interested in accepting cryptocurrency as payment for goods or services, only a fraction have already integrated this. Retail demands are growing, but there is still a lot of work for businesses and merchants to tap into crypto rails.
“Crypto merchant payments today represent an estimated annual volume of $6 billion, a tiny fraction of the $10 trillion C2B global eCommerce market.” - Nuvei’s white paper
At BoomFi, we want to empower merchants and businesses to adopt crypto payment with ease and confidence:
Strong Technical DNA
Aditya sharma
Having a strong technical team helps us to build products that will outlast the market hype. This is anchored by exceptional technical leadership through Co-founder and CTO Chao Yan. With 17 years of fintech experience and a successful track record as a technical co-founder at Elwood—where he secured a $70M Series A from Goldman Sachs, Dawn Capital, and others—Yan brings crucial expertise in bridging traditional finance with blockchain innovation. As he articulately put it: “At BoomFi, we're not just chasing the next trend; we're crafting the future of digital transactions to be more intuitive, efficient, and universally accessible.”
This approach has already yielded results for early adopters of BoomFi’s universal payment suites. Let’s take a look at what they have to say:
A User-Centric & Hyper-Focused Product Ecosystem
The technical vision has already shaped our current product suite. Our payment gateway is a universal platform, allowing one-click access to services that streamline payments, subscriptions, and settlements. Our crypto onramp is also highly competitive and easy to use, offering swift and smooth conversions to and from major currencies (GBP, EUR, USD) and via various transfer methods (SEPA, FPS, ACH, SWIFT), making financial operations more efficient. Underscoring our technical DNA and integrating with BoomFi’s solutions is always an easy and seamless process that allows merchants and businesses to accept crypto payments from day one.
Empowering All Levels of Technical Expertise
BoomFi's solutions bridge the gap between technical complexity and practical business needs. For businesses ready to accept crypto payments directly, our platform provides both developer-friendly APIs for customized integration and no-code solutions like Paylink for immediate deployment without technical knowledge. For fintech looking to embed crypto capabilities, we offer modular infrastructure components—from crypto APMs (Alternative Payment Methods) to stablecoin settlement and wallet infrastructure—that can be seamlessly integrated into existing payment stacks.
This flexibility means both small merchants and established payment providers can access the crypto’s market on their own terms, whether they're crypto veterans or just beginning their digital currency journey.
Regulatory Agility
Aditya sharma
We understand that navigating regulatory requirements and ensuring compliance can be challenging for businesses. BoomFi secured its VASP license in Poland in 2023, and with the MiCA framework coming into effect, we are fully committed to obtaining our MiCA license in the coming months.
Our strong regulatory foundation positions BoomFi as a trusted partner for businesses seeking compliant crypto payment solutions in Europe's evolving regulatory landscape. Integrity and security are at the core of our operations, protecting our clients’ digital assets and reputations. This commitment provides our partners and clients with the confidence to focus on growing their businesses without compliance concerns.
Parting Thoughts
BoomFi stands at the exciting future of crypto payment, where the innovations within Stablecoin, DeFi, PayFi, and RWA continue to flourish. Instead of mindlessly chasing and keeping up with these thriving sectors, the core purpose of BoomFi is still refining and delivering user-centric and efficient solutions that bridge the gap between crypto and traditional currencies. Cost leakages, fragmented financial systems, and regulatory uncertainty will continue to pose challenges for businesses to reap the benefits of crypto and digital assets. From that, we will double down with more iterations for our merchant-centric solution, leveraging our technical agility and regulatory foresight to enable the next million businesses and merchants to accept digital currencies.
Stay tuned. This is just the beginning of BoomFi and our strategic commitment to becoming the definitive partner for businesses and merchants transitioning into the multi-trillion dollar crypto payment industry.
We have so much more to share.
