The Bank of England (BOE) is moving its digital pound exploration into Phase 2, where its Digital Pound Lab will test how public stablecoin infrastructure and central bank money can coexist in a single payment flow for trade finance. The experiment, involving NOBO Finance, Dun & Bradstreet, and Polygon Labs, aims to improve efficiency for small businesses by allowing exporters to receive stablecoins while importers settle in a potential digital pound. The lab uses no real customers or money and does not signal any decision to issue a digital pound.