In Faltin-Metropolis-Ross-Rota's [FMRR] paper The Real Numbers as a Wreath Product [Adv. Math. 16(3), 278-304 (1975)], the real numbers are constructed as a quotient of a certain subset of the ring of formal Laurent series $\mathbb{Z}((T))$, emphasizing the digit-expansion aspect of elements of $\mathbb{R}$ by formalizing the idea of "infinite carrying". The paper by itself is not hard to follow, and my question is actually more about the title of the paper, for even after reading it completely, I did not understand what exactly was being referred to as a wreath product. (The term wreath product is mentioned exactly once in the entire paper: in the title!)
Here's a (very) quick summary of the construction:
Let $b\geq 2$ be a natural number (base). Write $\mathbf{C}_b \subseteq \mathbb{Z}((T))$ for the ring of convergent sequences: $$ \mathbf{C}_b = \left\{ \sum_{n\in\mathbb{Z}} a_n T^n \in \mathbb{Z}((T)) ~\bigg|~ |a_n| = o(b^n) \right\}. $$ Write $\mathfrak{K}_b := 1 - bT$ for the carry constant. Then, denote the ring of bounded sequences and the carry ideal by, resp., $$ R_b := \left\{ \sum_{j\in\mathbb{Z}} a_j T^j \in \mathbb{Z}((T)) ~\bigg|~ \sum_{j=1}^{n} |a_j| b^{n-j} = O(b^n) \right\}, \quad I_b := (\mathfrak{K}_b \mathbf{C}_b) \cap R_b, $$ so that $I_b \subseteq R_b \subseteq \mathbf{C}_b$. Then:
Theorem (FMRR). $R_b/I_b \simeq \mathbb{R}$ as ordered topological fields, for every $b \geq 2$.
Remark. The big-$O$ notation is just a shorthand for the appropriate condition (which, although similar, is defined solely in terms of $\mathbb{Z}$). Both the order and the topology turn out to be the "obvious ones" (of course); while a topology may be defined in terms of the magnitude of $\sum_j |\alpha_j - \beta_j| b^{n-j}$ as $n$ grows, the order depends on a canonical representation of strings (referred to as clearing in [FMRR]).
My question is: what exactly in this construction is being referred to as a wreath product? I see that $\prod_{j\in\mathbb{Z}} \mathbb{Z}/(b)$ could be acting as a basis for some potential wreath product, but I see no obvious group action that makes it substantially different from the generalized Lamplighter group $\mathbb{Z}/(b) \,\wr\, \mathbb{Z}$.