Bank of England to Test Whether Stablecoins and a Digital Pound Can Settle the Same Trade

Bank of England to Test Whether Stablecoins and a Digital Pound Can Settle the Same Trade

The Bank of England is testing whether a privately issued stablecoin and a central bank digital currency can settle opposite legs of the same cross-border trade. Polygon Labs said Tuesday that it is participating in Phase 2 of the bank’s Digital Pound Lab, an experimental platform that simulates a digital pound without real money or customers, alongside NOBO Finance, Dun & Bradstreet. The consortium is running two connected workstreams. The firs…

Bank of England puts digital pound and stablecoins to test

Stablecoins and a potential digital pound could be used together to speed up cross-border trade finance.  The Bank of England has selected NOBO Finance, Dun & Bradstreet and Polygon Labs for the second phase of its Digital Pound Lab, as it tests whether different forms of digital money can work together for cross-border payments. The Digital Pound Lab, which doesn’t involve real customers or money, completed Phase One earlier this year. NOBO Fin…

Bank of England Taps Polygon for Digital Pound Test

The Bank of England has named Polygon Labs, NOBO Finance, and Dun & Bradstreet as the consortium running a cross-border payments test inside Phase 2 ...

Polygon Joins Bank of England's Digital Pound Lab

The consortium enters Phase 2 of the Bank of England Digital Pound Lab to test near-instant cross-border settlement and a credit identity for businesses, powered by Polygon’s Open Money Stack Polygon Labs is participating in Phase 2 of the Bank of England’s Digital Pound Lab as part of a consortium with NOBO Finance and Dun & Bradstreet The Lab is a simulated test environment that enables the Bank and participants to test what’s possible for a …