Monument Bank, a digital bank in the UK, has postponed the launch of its £ 250 million (approximately $330 million) retail tokenized deposit program until November. Founder Mintoo Bhandari stated that the reason for the delay is the lack of custodians in the UK that meet both the Financial Conduct Authority (FCA) compliance requirements and support zero knowledge proofs. The bank has found an FCA approved custodian institution in Canada and plans to issue interest bearing retail tokenized deposits based on the Midnight blockchain.