Digital Pound Lab Tests Interoperability with Stablecoins and Central Bank Money
The Bank of England's Digital Pound Lab has announced that NOBO, Dun & Bradstreet, and Polygon Labs have been selected for Phase 2 of its experimental programme. The consortium is developing two cross-border trade projects for small and medium-sized businesses.
One project focuses on creating a reusable credit identity for SMEs, combining wallet transaction signals, open finance data, and business intelligence to generate a pre-qualified credit outcome that could be reused with different lenders or market participants. Dun & Bradstreet is contributing commercial identity and risk data already used in credit assessment.
The other project tests an invoice factoring process where an exporter receives an advance through a stablecoin rail and a UK importer completes settlement in digital pounds. Polygon Labs is providing the smart contract infrastructure to record the outcome and manage consent and the lifecycle of a deal.