Calypso Pay launches its own blockchain and updates

Tel Aviv, Israel, March 10, 2023 (GLOBE NEWSWIRE) — Calypso Pay, a high-volume crypto processing and purchasing platform from the Calypso Group, today announces the launch of its own blockchain and the first major update to the platform.

With Calypso Pay 2.0, the company streamlines the payment process:

• It reduces transaction fees by up to 20% – now customers only pay commission with no network fees to make withdrawals
• The company has increased the speed by two times – payments on up to 100 accounts are now processed in less than a minute
• The minimum payment threshold has been lowered from $100 to $1 – users can top up and withdraw without limits
• The commission is now deducted in the same currency used for the transaction – to transfer USDT you no longer need to hold ETH
• The company adds an instant automatic conversion service – customers can accept payments in any token and then convert them to stablecoins right away
• Each customer is given an opportunity to create multiple accounts within their main account and assign different roles for their employees to manage the information and data shared
• The internal transactions will be free, meaning companies within the Calypso Pay ecosystem will send transactions without paying network fees
• Customers can now request financial reports with transaction history for specific periods to identify the most used currencies, the amount of network fees paid and more

Calypso Pay is a high-volume crypto processing platform that allows merchants to receive payments in crypto from their customers and pay their partners and workers almost instantly with minimal commissions. Users can create invoices and use the payment widget to accept payments or charge subscriptions with advanced analytics on top. Calypso Pay even offers a dedicated crypto tax management module to meet your specific needs.

Calypso Pay allows you to send and receive payments in more than 150 countries with over 20 tokens such as BTC, ETH, Tron, BSC, USDT and many others, which are 80% of the global crypto market value. More than 10 million transactions have already been sent through Calypso Pay since January 1, 2022, and the platform processed $1.5 billion.

“Today we are excited to announce the launch of our own blockchain and present the first significant update to the product we have been working on for the past six months. Now we not only provide our customers with advanced fintech products and payment solutions, but have implemented Web3 in our core infrastructure,” says Svyatoslav Dorofeev, CEO of Calypso Group. “The transition requires reintegration, but brings remarkable improvements in both speed and fees and optimizes the payment process in Calypso Group as a whole.”

This fall, Calypso added support for the Bitcoin Lightning Network, enabling near-free and near-instant BTC transfers. Calypso Pay charges 1% for Lightning transactions – the same fee as any other service with no set-up fees, no monthly minimums and no hidden taxes. Transfers via the Bitcoin Lightning Network are available to all users without any restrictions: they can enjoy cheap and secure payments with instant deposits and withdrawals and no transaction limits.

Calypso Pay is part of the Calypso Group, a crypto-native fintech ecosystem for businesses. The group was formed through a merger of Calypso Pay and TheWatch, a blockchain analytics platform that provides transaction tracking and monitoring, transaction data insights, purchase history and risk management.

About Calypso Group

Calypso Group is building a crypto-native fintech ecosystem for businesses. It provides a comprehensive set of products and services that help customers accept payments in crypto, verify their origin for regulatory purposes, process payments and payroll. Calypso Pay simplifies crypto acquisition, even for subscriptions and payments to suppliers and workers. WatchBlock provides tracking and monitoring of transactions and provides insight into transaction data, purchase history and risk management. For more information, please visit calypso.finance