BoomFi breaks ground in crypto payment sector with lucrative $3.8m seed
Summary
SaaS, eCommerce, creators, marketplaces and traditional web 2 merchants.In the wake of a 47x increase in crypto adoption since the onset of the COVID-19 pandemic, this move by BoomFi comes at a fitting time. Yet, despite the evident demand for crypto, a mere 4% of merchants are currently offering this option, highlighting a gap that BoomFi aims to bridge.BoomFi co-founder Jack Tang opined on the future of transactions, stating, The way we pay for things and send/receive money in the future will involve crypto rails and bridging traditional and decentralised systems. This funding will push us full-throttle into a world where crypto payments is the norm, not the exception.Notably, BoomFis seed round saw participation from several prominent venture capitalists, strategic investors, and industry figures. Their unwavering commitment to streamlining crypto transactions in the payment sector aligns flawlessly with the prevailing trends. We are witnessing a significant shift towards the utility phase of blockchain technology and crypto, where goods and services seamlessly integrate, and BoomFis dedication perfectly captures this evolving landscape.Keep up with all the latest FinTech news here.