Monument Bank delays UK retail tokenized deposits to November

London-based challenger bank Monument Bank has delayed its retail tokenized deposits rollout, citing regulatory requirements from the UK's Financial Conduct Authority (FCA). The bank tapped a Canadian custodian to meet the regulator's conditions and now expects to launch the product by November.

• The delay stems from satisfying FCA regulatory requirements around holding tokenized deposits.
• A Canadian custodian was brought in to help the bank comply.
• Retail tokenized deposits are now expected in November.