Heatledger, a Finland-based blockchain company, announced a beta test of its e-wallet service with Paytah, a Malta-based financial services firm operated by Phoenix Payments Ltd., according to a company press release. 

Heatledger has produced the full software suite for Paytah's Momentum project, which offers a DLT platform that bridges crypto applications and traditional banking, including virtual IBAN accounts.

The Monetum project is planning its initial coin offering, according to the company.

Svante Lehtinen, chief executive of Heatledger, called the launch a major development in the integration of crypto with traditional banking.

"Likely it is the first fully compliant client side authenticated fiat e-wallet operated under the regulatory umbrella of the EU," he said in the announcement.