Gate News message, April 25 — Charles Hoskinson, founder of Cardano, has launched Midnight, a privacy-focused blockchain project, with approximately $250 million in tokenized deposits from Monument Bank. The partnership represents a significant institutional collaboration aimed at integrating blockchain technology with regulated financial systems.
The framework enables compliance teams to define rules through programmable scripts, ensuring that asset interactions across chains remain aligned with regulatory requirements in the United Kingdom. This approach is designed to address barriers to institutional adoption of blockchain technology by providing a regulated pathway for tokenized deposits while maintaining compliance with existing laws. The development is expected to create opportunities for similar collaborations with financial entities in the United States and Europe.
Midnight’s rollout has been supported by partnerships with Google Cloud, MoneyGram, and Vodafone, strengthening the platform’s infrastructure and expanding its reach across multiple industries. The platform uses zero-knowledge proofs to enable users to validate transactions without exposing sensitive data, balancing privacy with accountability. The network operates on a dual-token model: Knight functions as a publicly tradable governance token, while Dust serves as a private, non-transferable utility token for transaction execution.
Midnight’s security model is built on Cardano’s existing validator infrastructure, where stake pool operators produce blocks for both networks. The project achieved early adoption milestones through a token distribution campaign involving nearly one million participants across multiple blockchain ecosystems, with tokens subsequently listed on major trading platforms.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Scallop Discovers sSUI Reward Pool Vulnerability, Suffers 150K SUI Loss but Pledges Full Reimbursement
Gate News message, April 26 — Scallop, a lending protocol in the Sui ecosystem, announced the discovery of a vulnerability in an auxiliary contract associated with its sSUI reward pool, resulting in a loss of approximately 150,000 SUI. The affected contract has been frozen, and Scallop confirmed
GateNews1h ago
BHT Device Cluster DAPP Goes Live Globally, MOVA Ecosystem Application Layer Advances
Gate News message, April 26 — BHT (Balance Hub Terminal) announced today that its device cluster DAPP has officially launched globally, with operations beginning at 12:00 UTC / 08:00 ET on April 26, 2026.
As a core application layer within the MOVA Chain ecosystem, BHT focuses on device clusters an
GateNews2h ago
Ripple Custody Platform Now Live With Major Banks Across Europe, Asia, and Middle East
Gate News message, April 26 — Ripple has deployed its institutional-grade digital asset custody platform, Ripple Custody, with leading financial institutions across multiple regions. The API-first platform integrates with existing banking infrastructure and provides instant wallet provisioning,
GateNews4h ago
Aave, Kelp, LayerZero Seek $71M Frozen ETH Release from Arbitrum DAO
Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound filed a Constitutional AIP on the Arbitrum forum Saturday morning requesting the network's DAO release approximately $71 million in frozen ETH to support rsETH recovery efforts following last week's $292 million Kelp DAO exploit. The proposal
CryptoFrontier5h ago
Japan Lightning Network payment startup UseBitcoin announces sales of 100 million yen
UseBitcoin announces that Japan sales have surpassed 100 million yen, becoming the fastest-growing Bitcoin payment startup. By building payment channels through the Lightning Network, with no registration required and low transaction fees, it enables the purchase of digital gift cards with denominations of 500–100,000 yen using Bitcoin, covering au PAY, V-Preca, Kyash, QUO Card Pay, and more, promoting Japan’s micro-economy and everyday spending.
ChainNewsAbmedia7h ago
