Monument Bank to Tokenize Up to £250M Retail Deposits on Midnight Network

Monument Bank said on 26 March 2026 it plans to tokenize up to £250 million ($335 million) of retail customer deposits on the privacy-focused Midnight network. The bank stated the deposits will remain fully backed, redeemable 1:1 in pounds sterling, continue to earn interest, and stay protected under the U.K.’s FSCS. The rollout is aimed at mass-affluent clients and may later expand into tokenized investments and lending backed by onchain assets.