The deposits will remain interest-bearing, fully backed, and protected by the country's Financial Services Compensation Scheme. Monument Bank, a U.K. challenger bank, plans to tokenize up to 250 million pounds ($335 million) of retail customer deposits on the Midnight network, a public blockchain. The deposits will remain interest-bearing, fully backed, and protected by the U.K.'s Financial Services Compensation Scheme. The move could pave the way for other institutions to adopt simil…
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