Calypso Pay, a high-volume cryptocurrency processing & acquiring platform owned by Calypso Group, today announced the introduction of its own blockchain and the first substantial platform update.The business streamlines the transaction procedure with Calypso Pay 2.0: It reduces transaction costs by up to 20%; consumers now just pay commission instead of network fees when performing payouts.
Payouts for up to 100 accounts are now handled in less than a minute thanks to the company’s two-fold boost in speed.BTC transfers are now practically free and almost quick thanks to Calypso’s addition of support for the Bitcoin Lightning Network this fall. Lightning transactions cost 1%, which is the same as the fee for all other Calypso Pay services, which are free of setup costs, monthly minimums, and hidden taxes. All users of the Bitcoin Lightning Network can make transfers without any restrictions and can take advantage of cheap, secure payments with rapid deposits and withdrawals and no transaction limits.
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Users can now make payments starting at just $1 instead of the previously required minimum of $100.
Now that the commission is deducted in the same currency as the transaction, holding ETH is no longer necessary to transfer USDT. The business now offers a rapid auto conversion service so that its customers can take payments in any tokens and immediately convert them to stablecoins. To control the information and data shared among its personnel, each client has the ability to set up other accounts inside of their primary one. Internal transactions are now free, so businesses using the Calypso Pay ecosystem can send transactions without having to pay network fees.A crypto-native finance ecosystem for companies, Calypso Group, including Calypso Pay. TheWatch, a blockchain analytics platform that offers insights into transaction data, purchase history, and risk management, and Calypso Pay, a platform that tracks and monitors transactions, came together to establish The Group.
The most commonly used currencies, the amount of network fees paid, and other information may now be identified by the clients by requesting financial reports with the transaction history for certain periods.
With the help of the high-volume cryptocurrency processing platform Calypso Pay, businesses can pay partners and employees practically instantaneously and with no overhead. Users can make invoices and charge subscriptions or accept payments using the payment widget with extensive analytics on top. To meet their unique needs, Calypso Pay even offers a separate management module for crypto treasuries. Since January 1st, 2022, more than 10 million transactions totaling $1.5 billion have been sent through Calypso Pay.
“Today, we’re glad to announce the launch of our own blockchain and present the first significant update of the product we’ve been working on for the past six months. Now we do not only provide our clients with advanced fintech products and payment solutions but have implemented Web3 inside our core infrastructure”, says Svyatoslav Dorofeev, CEO of Calypso Group. “The transition requires reintegration but brings notable improvements both in speed and fees and optimizes the payment process within Calypso Group as a whole.”
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