Monument Bank plans to tokenize up to £250 million of retail customer deposits on Midnight, a privacy-focused blockchain designed by Shielded Technologies. The project would be the first time a UK-regulated bank has offered tokenized deposits directly to retail customers. The deposits will pay interest, remain fully backed and redeemable one-to-one in pounds, and retain Financial Services Compensation Scheme coverage within applicable limits. The bank is targeting mass-affluent customers with £50,000 to £5 million in investable assets. Monument manages about £7 billion in deposits for more than 100,000 customers, making the proposed pool about 3.6% of its deposits. The rollout, initially planned for earlier in 2026, has been delayed until November after Monument struggled to find a UK-based custodian meeting Financial Conduct Authority standards for advanced privacy technologies; it subsequently engaged an FCA-approved custodian in Canada. Monument is also reviewing retail access to fractional private equity, tokenized structured products and Lombard lending. The initiative contrasts with tokenization services from JPMorgan and Citigroup, which have largely served institutional clients. The latest report values the planned deposit pool at $335 million, compared with an earlier estimate of roughly $330 million.