According to Mars Finance, Monument Bank, a UK challenger bank, plans to tokenize up to £250 million (approximately $335 million) in retail customer deposits on the Midnight public blockchain network, becoming the first regulated bank in the UK to implement this on a public blockchain. These deposits will continue to accrue interest, be fully backed, and protected by the UK Financial Services Compensation Scheme.
Monument Bank in the UK plans to tokenize £250 million in retail deposits.
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