According to CoinDesk, the Bank of England (BOE) has announced that its digital pound project has officially entered Phase Two, focusing on testing whether public stablecoins and central bank digital currencies (CBDCs) can operate together within a single payment flow to modernize trade finance. This experiment centers on trade finance scenarios for small and medium-sized enterprises (SMEs): exporters receive upfront financing via stablecoin technology, while UK importers complete final settlement using digital pounds. Participants include UK fintech company NOBO Finance, global commercial data analytics firm Dun & Bradstreet, and blockchain company Polygon Labs. Together, they will integrate wallet transaction data, open financial information, and business intelligence to build reusable credit profiles for SMEs. Polygon will provide the stablecoin settlement infrastructure through its Open Money Stack, encompassing fiat on-ramps, wallets, and smart contracts. The BOE emphasized that this lab does not involve real customers or funds and does not indicate a decision to issue a digital pound. The findings will inform a joint assessment by the Bank of England and the Treasury later this year.
BoE Launches Phase Two of the Digital Pound Lab to Test Stablecoin and CBDC Cross-Border Interoperability
TechFlowShare
Summary
Digital asset news emerged as the Bank of England (BOE) launched the second phase of its digital pound project, testing interoperability between stablecoins and CBDCs in cross-border trade. The trial, involving NOBO Finance, Dun & Bradstreet, and Polygon Labs, focuses on SME trade scenarios where exporters receive pre-funding via stablecoins and importers settle payments in digital pounds. Polygon will utilize its Open Money Stack for stablecoin settlement. The BOE emphasized that no real funds or customers are involved, with results intended to inform a joint review by the BOE and the Treasury later this year. Digital collectibles news remains distinct from this CBDC-focused initiative.
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