UK’s Monument Bank delays £250M retail deposit token launch over regulation

UK digital bank Monument Bank has delayed the launch of its planned £250 million ($337.5 million) retail deposit token by several months due to custody-related regulatory issues, CoinDesk reported. The bank is now targeting a launch in November, later than originally planned. The product uses zero-knowledge proof technology from Midnight, a layer-1 blockchain backed by Cardano founder Charles Hoskinson. The structure is designed to keep customers’ financial data secure within the bank’s internal systems while proving regulatory compliance and auditability on-chain.