Crypto processing and acquiring platform Calypso Pay has merged its operations with blockchain analytics provider TheWatch to develop a crypto-focused fintech experience for enterprises.

The consolidated entity will be called Calypso Group, which will provide improved fintech solutions to the web3 sector.

It will be headed by the existing CEO of TheWatch, Svyat Dorofeev.

Besides, it intends to help businesses accept payments in crypto, establish their source for regulatory works as well as carry out payouts and payroll.

The firm will leverage Calypso Pay’s crypto processing platform, which is designed to enable its users to generate invoices and use the payment widget to accept payments or levy subscription charges.

It will also benefit from WatchBlock, which is a SaaS platform to track and check transactions, and WatchData that helps web3 developers with various tools, application programming interfaces (APIs) and solutions to develop blockchain apps.

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By GlobalData

Calypso Group CEO Svyatoslav Dorofeev said: “By merging into a single company, we can provide our customers with a complete set of solutions covering all their needs regarding payments in crypto.

“We aim to bring the modern fintech experience to the world of crypto and help projects and DAOs accept, send and track payments in an easy and compliant way.”

According to Calypso Group, transactions carried out through crypto are set to exceed $10bn this year. This figure jumped by 177.3% from 2020 to 2021.

Around 13% of adults in the US are estimated to own crypto by the year end and most of them will use crypto to make payments, noted the firm.

In July this year, Calypso Pay, in alliance with WatchData, rolled out Tron Mass Payouts to enable clients to easily set up Tron payouts to thousands of addresses.