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Monument Bank Plans to Tokenize Up to £250 Million in Retail Deposits

Monument Bank Plans to Tokenize Up to £250 Million in Retail Deposits

The UK digital bank said the deposits will be issued on Midnight Network and remain interest-bearing, fully backed by the bank, and redeemable one-to-one for pounds.

Fact Check
The statement is fully supported by official reports from CoinDesk and Mondo Visione published on March 25, 2026. All specific details, including the £250 million cap, the use of the Midnight Network, and the regulatory protections (FSCS), are verified.
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Summary

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Terms & Concepts
  • Tokenization: The process of representing real-world assets or financial claims as digital tokens on a blockchain or similar network.
  • Midnight Network: A blockchain network referenced by Monument Bank for issuing tokenized retail deposits in digital form.
  • Retail deposits: Customer cash deposits held at a bank, which in this case are planned to be converted into tokenized representations while remaining redeemable for pounds.