Don't confuse tokenized deposits (Tokenised Deposits) with ordinary RWA government bonds
Today @MidnightNetwork finalized the cooperation with Monument at the Blockworks summit in New York
The underlying logic is to attempt to pull the core assets of banks directly onto the blockchain
Traditional bank money has always wanted to enter Web3, but the fatal flaw is the issue of the naked ledger
No licensed institution dares to expose the details of billions in deposits and the trajectory of fund transfers on the public chain around the clock
That would be like handing a knife to all commercial competitors and MEV traps around the clock
Midnight's current positioning is extremely precise
Its privacy architecture with an authorized perspective
Just happens to be a protective shield tailored for those old financial players who are afraid of revealing their底牌
Yet have to deal with anti-money laundering audits every day
If Monument can really run the tokenized settlement of deposits here
It will connect the backbone network of the commercial banking system
The level of capital inflow of this magnitude, and the stickiness of deposits far exceed the liquidity mining we usually engage in
Once it takes root, Midnight will no longer be a simple privacy technology stack
But will directly become the settlement infrastructure of traditional capital markets
That said, listening to institutions tell stories and seeing real TVL materialize are two different things
This kind of transformation involving the core business of banks and the tug-of-war over regulatory compliance is usually extremely lengthy
The mainnet is still in the sprint phase, and the high-profile appearance at this summit is more about both parties strategically positioning themselves on the eve of RWA's explosive growth
Keep a close eye on whether there is real test capital coming into this business
If this secretive and compliant settlement path can really be established
In the future, those public chains with fully transparent ledgers
May not even qualify to bid in front of institutional capital. #night $NIGHT