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Cardano founder Charles Hoskinson said he is celebrating what he called one of the ecosystem’s “largest deals ever” after a tie-up between the privacy-focused Midnight blockchain and UK-regulated Monument Bank.
Hoskinson suggested the partnership could potentially drive “billions” in total value locked (TVL), while Monument Bank said it will become the first UK-regulated financial institution to tokenize retail customer deposits on a public blockchain.
The integration is set to roll out in three phases, beginning with a target of £250 million in tokenized retail deposits.
Monument Bank said the digital tokens will correspond one-to-one with actual fiat funds held at the bank. The deposits are described as fully backed and redeemable in British pounds (GBP), with protection under existing UK regulatory frameworks overseen by local regulations.
The announcement also points to data privacy as a key hurdle for blockchain adoption in the banking sector, positioning Midnight’s privacy approach as part of the rationale for the project.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
