Polygon Tests Stablecoins Against Simulated Digital Pounds
Polygon Labs has successfully tested a stablecoin payment against a simulated digital pound in the Bank of England's Digital Pound Lab. The test, which was completed eight weeks after the Bank set a temporary £40 billion issuance guardrail for each systemic sterling stablecoin, demonstrated that an orchestration layer can move a stablecoin leg and a simulated central bank leg without either waiting on the other.
The consortium behind the test, NOBO Finance with Dun and Bradstreet and Polygon, used the Open Money Stack to settle a cross-border payment in which one leg moved in stablecoins and the other settled in a simulated digital pound. The Bank of England's Phase 2 update listed the consortium as having built the test.
Marc Boiron, CEO of Polygon Labs, framed the exercise as a test of fungibility across money types, stating that 'for digital money to actually move the world's trade, its different forms have to work together: public and private, central bank money and stablecoins. Interoperability is what gets value moving.'