Crypto
Bank of England Expands Digital Pound Pilot with Polygon
The Bank of England has expanded its digital pound pilot to include the use of Polygon and stablecoins, according to CoinDesk. The bank's deputy governor, Jon Cunliffe, stated that the expansion will allow for a 'broader range' of participants in the pilot.
The digital pound is a proposed digital currency that would be issued by the Bank of England. It is still in the experimental phase and has not been implemented yet.
CoinDesk notes that the expansion of the pilot comes as part of the bank's efforts to understand how digital currencies can be used safely and effectively in the financial system.