Polygon Labs Joins Bank of England's Digital Pound Lab for Cross-Border Settlement Tests

Polygon Labs has been selected to participate in Phase 2 of the Bank of England's Digital Pound Lab, alongside NOBO and Dun & Bradstreet. The project focuses on testing cross-border settlement using the Open Money Stack, including digital-pound and cross-border stablecoin settlement.

The test aims to demonstrate how Polygon's settlement infrastructure can be used in an institutional digital-pound and cross-border trade-finance setting. This includes testing settlement across jurisdictions to showcase the capabilities of the Open Money Stack in supporting regulated financial workflows and trade-related transactions.

Polygon Labs' participation provides an opportunity to validate its role in this use case, but it does not necessarily demonstrate broad adoption or a market effect. The selection is seen as a chance for Polygon to test and refine its technology in a real-world setting.