In a small bowl, crumble the saffron threads into warm seafood broth and let it steep for 10 minutes to release its golden color and aroma.

Heat the olive oil in a large, wide skillet over medium heat, then add the chopped onion and diced red bell pepper, sautéing for about 5 to 7 minutes until the vegetables are soft and translucent.

Stir in the minced garlic, crushed tomatoes, and sweet smoked paprika, cooking for 3 to 4 minutes until the tomatoes have darkened slightly and the mixture is highly fragrant.

Pour in the Bomba rice and stir thoroughly to coat the grains with the tomato mixture, letting the rice toast for about 2 minutes until glistening with oil.

Pour the saffron-steeped broth into the pan and stir gently to distribute the rice evenly. Bring the liquid to a boil, then reduce the heat to medium-low and simmer undisturbed for 15 minutes.

Nestle the shrimp, squid rings, and mussels into the rice, then scatter the frozen peas over the top. Cover the pan and cook for another 8 to 10 minutes until the shrimp turn pink and the mussels open.

Remove the pan from the heat, cover with a clean kitchen towel, and let it rest for 5 minutes before serving hot garnished with fresh lemon wedges.