The UK's Monument Bank is pushing real-world tokenization directly to its retail customers in the first such move by a regulated UK bank. The financial institution manages roughly £7bn in deposits and has officially partnered with the privacy network Midnight to tokenize customer funds on a public blockchain, according to a company release.
UK’s Monument Bank Takes Retail Deposits Onchain
26 March 2026 - 09:02 CET
The first phase brings up to £250mn in retail deposits directly onto the Midnight network. The onchain deposits will generate yields similar to traditional bank accounts and remain fully redeemable in British pounds.
Customers will eventually be able to borrow against their tokenized assets. Midnight uses programmable privacy infrastructure to ensure sensitive financial information remains protected, executives said in the official announcement.
