Polygon Labs Joins Bank of England's Digital Pound Lab Phase 2, Exploring Cross-Border Settlement
Polygon Labs has entered Phase 2 of the Bank of England's Digital Pound Lab, collaborating with NOBO Finance and Dun & Bradstreet. This initiative focuses on examining near-instant cross-border settlement and portable credit identities for businesses, leveraging Polygon's Open Money Stack technology.
The Digital Pound Lab serves as a controlled, simulated platform that allows the central bank and industry participants to explore potential applications for a digital pound alongside cross-border stablecoin transactions.
Marc Boiron, CEO of Polygon Labs, emphasized the importance of such collaboration: 'different forms of digital money, public and private, central bank-issued and stablecoin-based, must function together for global trade to benefit fully.'