Monument Bank delays $330 million tokenized deposit launch to November

UK-based Monument Bank (Monument Bank) has postponed the launch of its £250 million ($330 million) retail tokenized deposit program until November. The delay is attributed to a shortage of crypto custodians capable of meeting the UK Financial Conduct Authority (FCA) standards while supporting zero-knowledge privacy proofs. The bank plans to issue interest-bearing tokens on the Midnight blockchain, ensuring regulatory compliance while maintaining customer privacy.