Heatledger, Finland based blockchain software company has publicly released its on-going partnership with Paytah. Paytah is a Malta based financial services provider operated by Phoenix Payments Ltd. a MFSA licensed payment institution. Paytah’s Monetum project is currently preparing for its Initial Coin Offering (ICO).
“This launch is a major development in the integration of traditional financial services with the new crypto technology. Likely, it is the first fully compliant client side authenticated fiat e-wallet operated under the regulative umbrella of an EU country.”
Svante Lehtinen (CEO, Heatledger)
Heatledger has been producing the full software suite for Paytah’s Monetum project. Monetum provides a fully regulated DLT platform that bridges crypto applications and traditional banking services, such as virtual IBAN accounts. The solution is based on Heatledger’s scalable cryptocurrency and decentralized exchange, capable of processing thousands of transactions per second on private networks.
The resulting e-wallet service, now in private live beta testing phase, will enable users to access their online fiat currency enhanced with features only made possible by the cryptocurrency technology. It is fully client side authenticated, meaning that not even the service provider has
access to adjust the user account balances, or initiate transfers from them. This paradigm shift has major implications, for example by eliminating the risk of misuse through central governance of accounts.
“Ever more cryptocurrency technology is slipping into the traditional financial services field. Heatledger is proud to be part of this transformation and looks forward to successfully keep attracting institutional partners that desire to enjoy the benefits of blockchain tech, and the competitive edge from a first-mover advantage.” – Dennis de Klerk (CTO, Heatledger)