Polygon Labs has joined the second phase of the Bank of England's Digital Pound Lab, alongside NOBO Finance and Dun & Bradstreet. According to Foresight News, the lab is a simulated testing environment and does not involve real customers or real funds.

The test will model a cross-border settlement scenario in which exporters pay with stablecoins and importers settle with a digital pound through a unified process. Polygon's Open Money Stack will support the stablecoin settlement side, while the digital pound side will be settled in the Bank of England's simulated environment.

The team will also test a portable credit identity solution for small and medium-sized enterprises, led by NOBO Finance, with credit data from Dun & Bradstreet and on-chain infrastructure support from Polygon. Polygon Labs said its participation does not mean the Bank of England endorses its products, and the test results do not indicate the final design of the digital pound.