Monument Bank to tokenize 250 million pounds of retail deposits in UK first
Monument Bank plans to tokenize £250 million of retail deposits on the Midnight network, marking a UK-first for a regulated bank on a public blockchain. These deposits will remain interest-bearing, backed by the bank, and eligible for compensation under UK regulations. The initiative targets mass-affluent retail customers, with further phases anticipated to introduce tokenized investment products and enhanced services through a Banking-as-a-Service platform.
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