Polygon Labs Joins Digital Pound Lab to Explore Interoperability

Polygon Labs has joined forces with NOBO Finance and Dun & Bradstreet to participate in Phase 2 of the Bank of England's Digital Pound Lab. The initiative explores near-instant cross-border settlement and portable credit identities for businesses, leveraging Polygon's Open Money Stack technology.

The Digital Pound Lab is a controlled, simulated platform that allows central banks and industry participants to examine potential applications for a digital pound alongside cross-border stablecoin transactions. In this phase, the consortium is investigating whether a stablecoin and a digital pound can complete opposite sides of the same international payment within a unified process.

Polygon Labs supplies the stablecoin settlement infrastructure and underlying smart contracts via its Open Money Stack, which operates on the Polygon network. The digital pound portion clears on the Bank of England's simulated systems.