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Monument Bank delays retail tokenized deposits to November over UK regulatory hurdles

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London-based challenger bank Monument Bank has postponed its retail tokenized deposits rollout due to regulatory challenges in the United Kingdom. The bank engaged a Canadian custodian to comply with requirements set by the Financial Conduct Authority (FCA). The decision to bring in the foreign custodian was driven by the need to meet the FCA's specific regulatory standards. Monument Bank now expects to launch the retail tokenized deposit service by November.

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