Monument Bank is blending traditional banking with new blockchain technology. They’ve announced they will soon offer tokenized retail deposits, meaning customers’ savings will be represented using blockchain.
This project, created with the Midnight Foundation, lets customers keep their bank savings as digital versions, with the same security and advantages as traditional savings accounts.
These digital tokens are different from cryptocurrencies because they aren’t new assets on their own. They simply represent money you already have in the bank. Each token is directly backed by an equal amount of traditional deposits, so you can still get your money back in pounds sterling and continue earning interest as normal.
This is a huge milestone for us, potentially bringing between hundreds of millions and billions of dollars in Total Value Locked (TVL) to the Midnight ecosystem. I’m incredibly proud of @F_ZK_Now and the entire team at @midnightfdn for their dedication and successful negotiations with Monument. Midnight is…
— Charles Hoskinson (@IOHK_Charles) March 25, 2026
The project will start with an initial investment of up to £250 million. This is a first move towards potentially changing how banks use blockchain technology to offer financial services.
I’m really excited about what my bank is planning beyond just creating tokens. They’re talking about eventually letting me invest in things like private equity and commodities through these tokens – stuff that usually only big institutions or super-rich people get access to. It could open up a whole new world of investment opportunities for regular investors like me, which is a big deal!
We’re also planning to let customers borrow money using their digital assets as collateral. This will give them access to funds without having to sell their investments, similar to how private banks offer loans.
A key part of this project is using blockchain technology that prioritises privacy. The system is built to keep sensitive financial information secure and accessible only to those with permission, which helps meet regulations about data protection and openness in decentralized systems.
This new development arrives as banks around the world look for ways to use tokenization to make finance faster and more accessible. Most current projects are aimed at businesses, but this one focuses on everyday customers, which could mean blockchain-based banking is becoming more common.
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2026-03-25 19:07