{"id":15995,"date":"2026-08-12T20:32:56","date_gmt":"2026-08-12T20:32:56","guid":{"rendered":"https:\/\/cryptonewsdesk.com\/?p=15995"},"modified":"2026-08-12T20:32:58","modified_gmt":"2026-08-12T20:32:58","slug":"bank-of-england-taps-polygon-consortium-for-digital-pound-trade-finance-tests","status":"publish","type":"post","link":"https:\/\/cryptonewsdesk.com\/index.php\/2026\/08\/12\/bank-of-england-taps-polygon-consortium-for-digital-pound-trade-finance-tests\/","title":{"rendered":"Bank of England taps Polygon consortium for digital pound trade finance tests"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Bank of England is expanding its digital pound experiments, bringing together <strong>NOBO Finance, Dun &amp; Bradstreet and Polygon Labs<\/strong> to explore how digital money could make cross-border trade finance faster and easier for small and medium-sized businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The three companies have joined Phase 2 of the Bank of England\u2019s Digital Pound Lab, where they will test a system combining stablecoin payments, potential digital pound settlement and reusable business identity data.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The project will focus on two closely connected areas. The first involves creating a reusable credit profile that could help SMEs prove their financial strength more easily when applying for financing. The second will examine whether exporters can receive stablecoin advances while UK importers complete final payments using digital pounds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The experiment remains entirely within the Bank of England\u2019s testing environment. <strong>No real customers or real money are involved<\/strong>, and participation in the Digital Pound Lab does not mean the central bank has decided to launch a digital pound.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Polygon joins Bank of England digital pound experiment<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon Labs will provide blockchain infrastructure for the project through its Open Money Stack.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The technology will support stablecoin settlement, digital wallets and smart contracts used across the trade finance experiments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NOBO Finance, meanwhile, will lead the trade finance side of the project. The UK fintech specializes in digital infrastructure designed to make financing more accessible for small and medium-sized companies involved in international trade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NOBO previously participated in Phase 1 of the Digital Pound Lab, where it demonstrated conditional business-to-business escrow payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Phase 2 expands that work by adding Dun &amp; Bradstreet&#8217;s commercial intelligence and Polygon&#8217;s blockchain technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The goal is to test whether payment infrastructure, credit information and business verification can work together more efficiently.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That could be particularly useful in international trade, where transactions often involve banks, exporters, importers, logistics companies and financing providers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For smaller businesses, those multiple layers can create significant delays.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies may ship goods but wait days or longer before receiving payment, leaving valuable working capital locked up during the settlement process.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Manual identity and credit checks can create further delays when businesses seek financing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Digital Pound Lab will create reusable SME credit profiles<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">One of the project&#8217;s most interesting experiments involves what the consortium calls an <strong>SME Bankable Profile<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The idea is to create a reusable financial identity that could help lenders assess a small business without forcing the company to repeat the same verification process every time it seeks financing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The profile would combine several types of information, including transaction data obtained through consent-based wallets, open finance information and commercial business intelligence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Dun &amp; Bradstreet will contribute business data and risk indicators already used by financial institutions when assessing companies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon&#8217;s blockchain infrastructure will support the smart contracts used for consent management, verification and different stages of a financing transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the proposed model, an SME could build a verified financial profile using its transaction history and other trusted information.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead of starting a new assessment from scratch whenever the business approaches another lender, the verified profile could move with the company.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Importantly, the consortium says businesses would remain in control of their profiles.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That could potentially make it easier for smaller companies to demonstrate their creditworthiness while reducing repetitive paperwork for lenders.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Stablecoins and digital pounds could work in the same transaction<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The second part of the experiment will examine how different forms of digital money could be used within one trade finance transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The consortium plans to test invoice factoring supported by an electronic bill of lading.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Invoice factoring allows a business to receive money against an unpaid invoice rather than waiting until the customer makes the final payment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the Digital Pound Lab experiment, an exporter could receive an advance in stablecoins.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A UK importer could then settle the final payment using digital pounds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon&#8217;s Open Money Stack would provide the infrastructure needed for the stablecoin side of the transaction.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The test could help determine whether privately issued stablecoins and central bank digital currencies can work together rather than forcing businesses to choose a single digital payment system.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon Labs CEO Marc Boiron said digital money will need interoperability if it is going to play a meaningful role in international trade.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The experiment effectively tests a scenario where the exporter receives stablecoins while the importer uses central bank digital money, with infrastructure connecting the two sides of the transaction.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Polygon&#8217;s Open Money Stack supports stablecoin payments<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon has been expanding its payment infrastructure as stablecoins become more widely used by fintech companies and traditional financial institutions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its Open Money Stack is designed to combine several services within one infrastructure layer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These include fiat-to-stablecoin conversion, digital wallets, stablecoin settlement and other payment capabilities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The idea is to make it easier for financial platforms to interact with both traditional currencies and blockchain-based money without building completely separate infrastructure for each.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PayPal USD was added to Polygon&#8217;s Open Money Stack in July, giving businesses access to the Paxos-issued stablecoin alongside wallets, fiat payment ramps and compliance tools.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon Labs previously said its network had processed more than $2.6 trillion in stablecoin transaction volume.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies including Revolut and Stripe have also used Polygon infrastructure as blockchain-based payments become a larger part of mainstream financial services.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Bank of England continues exploring a possible digital pound<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The latest experiment is part of the Bank of England&#8217;s broader research into what a UK central bank digital currency could eventually look like.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Digital Pound Lab was created as an experimental environment where the central bank and private companies can test different technologies and business models.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Rather than building a live CBDC immediately, the programme allows participants to explore specific payment problems that a digital pound might solve.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Bank of England has repeatedly stressed that <strong>no final decision has been made to introduce a digital pound<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, officials are studying the infrastructure, regulations and use cases that would be necessary if the UK eventually chooses to issue one.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The central bank is also considering how a digital pound might exist alongside other emerging forms of money.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Deputy Governor Sarah Breeden previously said the future UK payment system could potentially support tokenized bank deposits, regulated stablecoins and a retail digital pound at the same time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That approach suggests the Bank of England is considering a financial system where several types of digital money coexist rather than one completely replacing another.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">UK stablecoin regulation is also moving forward<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The Bank of England&#8217;s digital pound research is taking place alongside a wider effort to regulate blockchain-based financial infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In June, the central bank finalized rules for systemic stablecoins.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The framework removed previously proposed limits on how many stablecoins individuals could hold.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It also established an initial issuance limit of \u00a340 billion for each token.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Stablecoin issuers would be allowed to hold as much as 70% of their reserves in short-term government debt, compared with a previously proposed level of 60%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, traditional financial institutions are preparing experiments involving tokenized assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sixteen companies, including HSBC and Euroclear, were preparing tokenized asset launches through the Bank of England and Financial Conduct Authority&#8217;s Digital Securities Sandbox beginning in late 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Together, these initiatives show that UK regulators are looking beyond a digital pound alone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">They are exploring how stablecoins, tokenized deposits, digital securities and central bank money could interact within a broader digital financial system.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Polygon expands infrastructure for institutional payments<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon has also spent much of 2026 improving its network for payments and institutional settlement.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In May, the blockchain reduced its average block time to around 1.75 seconds.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Polygon software engineer Lucca Martins estimated that the improvement increased the network&#8217;s theoretical throughput to approximately 3,260 transactions per second.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company has also introduced privacy technology for stablecoin transfers through an integration with Hinkal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The system uses zero-knowledge proofs and shielded transaction pools to keep payment information from being publicly visible while still supporting compliance checks and regulatory audit records.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These capabilities are particularly important for institutional finance, where companies may want the efficiency of blockchain settlement without exposing sensitive transaction information publicly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the Digital Pound Lab, however, Polygon&#8217;s role is limited to providing infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company is <strong>not issuing the digital pound<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its technology will instead support stablecoin transactions, digital wallets, fiat conversion and smart contracts used in the SME financial identity experiment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">NOBO will coordinate the trade finance model<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">NOBO Finance will continue managing the trade finance side of the project.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company does not directly lend money to SMEs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead, it provides infrastructure that allows businesses and financing providers to structure, verify and settle trade finance transactions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">NOBO founder and CEO Ayo Ojerinola said international trade remains a complicated process because multiple companies, data systems and payment networks must work together.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Digital Pound Lab gives the consortium an environment where those systems can be tested without exposing real customers or funds to experimental technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That makes Phase 2 an important test of whether digital money can solve practical business problems rather than simply replacing existing payment methods with blockchain-based alternatives.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For SMEs, the potential benefit is straightforward: faster verification, easier access to financing and shorter settlement times could free up working capital that would otherwise remain trapped while international transactions are completed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For the Bank of England, the experiment could provide a clearer picture of how a future digital pound might interact with stablecoins and existing financial infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And for Polygon, participation gives its stablecoin and smart contract technology another opportunity to demonstrate how public blockchain infrastructure could fit into regulated financial markets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of England is expanding its digital pound experiments, bringing together NOBO Finance, Dun &amp; Bradstreet and Polygon Labs to explore how digital money could make cross-border trade finance faster and easier for small and medium-sized businesses. The three companies have joined Phase 2 of the Bank of England\u2019s Digital Pound Lab, where they&#8230;<\/p>\n","protected":false},"author":3,"featured_media":15996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[570,2299,175],"class_list":["post-15995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-polygon","tag-sme-trade","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bank of England taps Polygon consortium for digital pound trade finance tests - Crypto News<\/title>\n<meta name=\"description\" content=\"Bank of England digital pound tests will use Polygon infrastructure to explore SME trade finance, stablecoin payments and faster digital settlement.\" \/>\n<meta name=\"robots\" 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