NOBO Finance Limited, Dun & Bradstreet, and Polygon Labs are testing whether a stablecoin and a simulated digital pound can settle the same cross-border payment in a single flow as part of Phase 2 of the Bank of England’s Digital Pound Lab.
The Bank of England notes that the collaboration is one of 12 participants in Phase 2 of the Digital Pound Lab, which does not indicate sponsorship or support of any company or product.
The consortium is creating an electronic bill of lading-backed invoice factoring flow with multi-rail settlement. In the tested flow, a UK importer completes the final settlement in digital pounds while an exporter receives an advance via a stablecoin train.
According to Polygon Labs, the Open Money Stack orchestration layer, which is based on the Polygon network, contributes to the stablecoin settlement leg and the smart contract technology that underpins it. The Bank of England’s simulated test rails are where the digital pound leg lands.
NEW: Polygon has been selected to participate in the Bank of England’s Digital Pound Lab, with NOBO and Dun & Bradstreet.
With our work building the Open Money Stack, we’re testing what’s possible for a digital pound and cross-border stablecoin settlement. pic.twitter.com/DzpTK8x7Rx
— Polygon (@0xPolygon) August 12, 2026
In the release, Marc Boiron, CEO of Polygon Labs, stated that interoperability is what drives value and that digital money’s many forms must cooperate in order to propel global trade.
The SME Bankable Profile, headed by NOBO Finance, is the consortium’s other workstream. It creates a reusable, pre-qualified credit result by fusing open finance, business data, and consent-driven wallet transaction signals.
Through the D&B business Graph, Dun & Bradstreet provides risk indicators and business intelligence. Polygon Labs offers smart contract infrastructure that anchors the verifiable outcome and controls the consent and deal lifecycle, while Polygon Chain provides the on-chain infrastructure that permits the profile to travel with the payment, according to Polygon’s blog post.
Smoother trade finance for SMEs depends on trust, which begins with trustworthy corporate identification and risk data, according to Sara de la Torre, head of financial services at Dun & Bradstreet.
The founder and CEO of NOBO Finance, Ayo Ojerinola, stated that trade finance is inherently multi-party and that the data, settlement processes, and workflows are not well connected.
A virtual testing environment is called the Digital Pound Lab. According to Polygon Labs, there are no actual clients, no actual funds, and no official regulatory scrutiny associated with the products it tests. A virtual pound is used as a benchmark.
The decision to issue a digital pound has not yet been taken by the Bank of England. According to the Bank, the policy decisions made during participant demonstrations were made by the participants only for the experiment and should not be interpreted as a reflection of future Bank policy.
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