Monument Bank has delayed its £250 million ($330 million) retail tokenized deposit plan by several months, with launch now expected in November. Founder Mintoo Bhandari said the delay was due to a lack of local crypto-asset custodians able to meet FCA requirements and handle zero-knowledge privacy proofs. The digital bank has identified an FCA-approved custodian in Canada but has not disclosed its name. The deposits will be issued on privacy-focused Layer 1 blockchain Midnight, fully backed by Monument Bank, redeemable 1:1 for pounds, and covered by the Financial Services Compensation Scheme up to £120,000 per individual or business.