Polygon Joins Bank of England Digital Pound Lab for Stablecoin Payments Trial

Polygon Labs has joined Phase 2 of the Bank of England's Digital Pound Lab to test the use of stablecoins and a potential digital pound in cross-border trade finance.

The initiative, led by NOBO Finance and Dun & Bradstreet, aims to explore how different forms of digital money can settle within one transaction flow without forcing businesses onto disconnected payment rails.

Polygon's involvement in the Digital Pound Lab is part of its efforts to expand its onchain FX infrastructure. The company has also gone live with a USDm/EURm liquidity pool on Polygon, backed by Capa and Schuman Financial's EURØP.