Crypto
Bank of England Trials Stablecoin and Digital Pound Infrastructure
The Bank of England has partnered with Polygon Labs to trial stablecoin and digital pound infrastructure. The initiative aims to accelerate international payment settlement for small and medium enterprises.
Polygon Labs delivers blockchain infrastructure supporting stablecoin transactions and smart contract execution.
The trial explores dual-currency settlement, where exporters accept stablecoins and UK importers use digital pounds.
The partnership addresses international trade challenges, including payment delays that constrain working capital for small businesses.