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Cardano founder Charles Hoskinson believes new privacy-focused systems like Midnight are changing how finance works by playing by different rules.
He recently used subtle humor to make this point while responding to ongoing discussions about stablecoins, banking, and blockchain privacy.
Key Points
- Charles Hoskinson argues that privacy-enabled infrastructure, powered by Midnight, could fill a critical gap in traditional finance.
- Cardano SPO identifies Midnight as the driving force behind financial strategies in the U.S. and U.K.
- Hoskinson believes the Monument–Midnight deal is one of the most significant in Cardano’s history, with potential to drive major capital inflows.
- He also frames Midnight as the home of “Web 2.5,” a hybrid model that bridges traditional finance with decentralized infrastructure.
Divisions Between UK and US Financial Strategies
The discussion gained momentum after the Midnight Foundation partnered with Monument Bank to tokenize retail deposits, marking a first for a U.K.-regulated bank. Through this initiative, the partners will bring traditional savings products on-chain while preserving key safeguards such as deposit insurance and regulatory compliance.
Following the announcement, a prominent Cardano community figure, “Stake with Pride,” highlighted a sharp contrast between the U.K. and U.S. approaches to on-chain finance.
Specifically, the Cardano SPO argued that stablecoins in the United States are losing their yield advantage to traditional banks, pointing to regulatory moves such as the proposed restrictions on passive yield in the Clarity Act.
In contrast, the U.K. is taking a different path. According to the post, financial institutions are actively integrating interest-bearing accounts directly on-chain while maintaining user confidentiality.
Moreover, the commentary positioned Midnight as a key enabler of this shift, citing the recent partnership as clear evidence of its real-world relevance.
Cardano Founder Reacts
In response, Hoskinson shared a GIF of Steve Harvey casually remarking, “I’m just saying,” effectively backing the Cardano SPO’s argument.
https://t.co/1P9dPrhE38 pic.twitter.com/pQcKXJFKRi
— Charles Hoskinson (@IOHK_Charles) March 25, 2026
Although the reaction appeared lighthearted, it carried a deeper implication: the industry narrative may be shifting in favor of privacy-focused blockchain solutions.
Notably, Hoskinson has already described the Monument–Midnight collaboration as one of the most significant deals in Cardano’s history, projecting that it could attract substantial capital inflows into the ecosystem. However, his latest reaction suggests that the impact extends beyond a single partnership.
Midnight Is Home to Web 2.5 Ventures
Meanwhile, Charles Hoskinson has actively championed the project after committing $200 million to its development. In recent weeks, he has also intensified efforts to build momentum toward the privacy blockchain’s mainnet launch this month, even describing the period as “Midnight Week.”
Notably, the project has already secured partnerships with major players, including Google and Telegram. However, Hoskinson expects the list to continue expanding as more institutions seek efficient privacy-focused blockchain solutions. In his view, the collaboration with Monument Bank Limited further validates that trajectory.
Yesterday, Hoskinson argued that Midnight is more than a typical blockchain initiative. Instead, he frames it as the home of “Web 2.5” ventures, a model designed to bridge traditional finance with decentralized infrastructure.