Cardano (CRYPTO: ADA) founder Charles Hoskinson landed UK bank Monument with $250 million in tokenized deposits at launch for his new privacy blockchain Midnight alongside partnerships with Google Cloud, MoneyGram, and Vodafone.
The $250 Million Monument Deal
Hoskinson said the deal makes sense because compliance officers can write scripts defining what’s allowed and how assets interact with other chains while staying compliant with UK regulation.
He credited Fahmy Syed, who formed over 100 partnerships in nine months at the Midnight Foundation, with closing the deal.
The partnership creates a direct path to syndicate similar deals with U.S. and European financial institutions and the Bank of England.
Monument wants to step into what Hoskinson calls the “Web 2.5 space”—one foot in traditional regulated business and one foot in crypto with rules and control. “There really isn’t a bespoke chain for that,” Hoskinson said.
Why Midnight Exists
Hoskinson built …