[UK's Monument Bank Delays $330 Million Tokenized Retail Deposit Plan to Launch in November] According to CoinDesk, UK digital bank Monument Bank has delayed its £250 million (approximately $330 million) tokenized retail deposit plan by several months, now expected to launch in November this year. The bank's founder, Mintoo Bhandari, stated that the delay is primarily due to the lack of a crypto asset custodian in the UK that can both meet the stringent requirements of the Financial Conduct Authority (FCA) and handle zero-knowledge privacy proofs. Monument Bank has identified an FCA-approved custodian in Canada but has not disclosed its name. The project plans to issue interest-bearing tokenized retail deposits on the privacy-focused Layer 1 blockchain Midnight, utilizing zero-knowledge proofs to keep customer information within the bank's internal systems while providing on-chain compliance and audit records to regulators.