Deep Tide TechFlow News: On March 25, according to CoinDesk, UK challenger bank Monument Bank plans to tokenize retail customer deposits of up to £250 million (approximately $335 million) on the Midnight public blockchain network, becoming the first regulated bank in the UK to implement this initiative on a public blockchain. The relevant deposits will continue to accrue interest, be fully backed, and be protected by the UK Financial Services Compensation Scheme.
Deep Tide TechFlow News: On March 25, according to CoinDesk, UK challenger bank Monument Bank plans to tokenize retail customer deposits of up to £250 million (approximately $335 million) on the Midnight public blockchain network, becoming the first regulated bank in the UK to implement this initiative on a public blockchain. The relevant deposits will continue to accrue interest, be fully backed, and be protected by the UK Financial Services Compensation Scheme.