The Bank of England's digital pound project has entered its second stage, testing whether publicly issued stablecoins and central bank money can work together in a single payments process for trade finance. According to Odaily, the Bank of England will work with NOBO Finance, Dun & Bradstreet, and Polygon Labs in a digital pound lab to explore reusable credit profiles for small businesses and examine the use of stablecoins alongside a potential digital pound in invoice factoring. The experiments do not involve real customers or funds and are intended to help the Bank of England and the U.K. Treasury assess the interoperability of different forms of digital currency.