London-based Monument Bank is set to tokenise up to 250 million pounds ($335 million) of retail customer deposits on the Midnight network, marking the first such move by a U.K.-regulated bank on a public blockchain. The deposits will remain interest-bearing, fully backed by Monument and redeemable one-for-one in pounds sterling. This move is part of a wider push to introduce tokenized financial products into regulated banking. The first phase of this initiative will include adding tokenized investment products and lending against these holdings in the Monument app.