According to CoinMeta, British digital banks monument and bank have postponed the launch of their retail tokenized deposits until November due to difficulties in finding local crypto custodian institutions that can meet both FCA regulatory requirements and the needs of zero-knowledge proof technology. Currently, the banks have turned to a custodian based in Canada that has been approved by FCA. The project plans to tokenize approximately 250 million pounds sterling in retail deposits on the Midnight public chain. The deposits will still be fully supported by monument and bank, exchanged at a 1:1 ratio for pounds sterling and accrue interest, while also continuing to be protected by the UK Financial Services Compensation Scheme (FSCS).