Cardano: Midnight Powers First UK Bank to Tokenize Retail Deposits

Monument partners with Midnight Foundation, the team behind Cardano-based Midnight, to become the first UK-regulated bank to tokenize retail customer deposits.

🍀Monument Bank Limited has partnered with Midnight Foundation to tokenize retail customer deposits on a public blockchain. 

🍀The initiative marks the first time a UK-regulated bank has brought retail deposits on-chain. Monument will roll out the initiative in three structured phases, with phase one expected to tokenize up to £250 million ($334.17 million) in customer deposits. 

🍀Customers can access tokenized products without managing or holding digital assets. 

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