My band literally use this set up.
I have the traditional method of having my vocal tags and click fully left, and every audio backing track fully right. Both the 'left' and 'right' enter the mixing desk effectively as two mono jack signals (XLR is fine too depending on the desk's I/Os ).
Each band member (we've had up to 4 separate mixes, and mine's stereo which is better still) can control their own mix via a phone app, or directly via my Allen & Heath QU16 digital mixer.
We're two gigs in and it's working brilliantly.