Monument Bank to Tokenize $335M Deposits on Blockchain, First in UK Retail Banking
Monument Bank, a London-based financial institution, is planning to use blockchain technology to turn customer deposits into digital tokens. They intend to initially tokenize £335 million (around $250 million) on a public network, making them the first UK bank authorized to tokenize everyday customer savings. This innovative project will offer the benefits of digital tokens while still ensuring customers’ money is protected under standard banking regulations.
