British digital bank Monument Bank announced plans to tokenize up to £250 million (approximately $335 million) in retail deposits on its Midnight Network, calling it the first such initiative by a regulated bank in the UK on a public blockchain. The bank stated that the deposits will retain interest, be fully backed by the bank, and be convertible to pounds sterling at a 1:1 ratio. Unlike previous initiatives focused on institutional clients or closed networks, Monument is targeting retail customers, initially focusing on the "affluent" segment with investable assets between £50,000 and £5 million. (Coindesk)