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BoE Digital Pound Lab Picks NOBO, D&B and Polygon Labs

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BoE Digital Pound Lab Picks NOBO, D&B and Polygon Labs

NOBO, a UK fintech building digital trade finance rails for small and medium-sized enterprises, completed Phase 1 of the lab independently, demonstrating conditional B2B escrow payments relevant to trade workflows. Phase 2 extends that foundation into a full settlement and identity stack, with Dun & Bradstreet and Polygon Labs brought in as named partners.

The lab operates without real customers or live money and is designed as a controlled environment for evidence-based exploration. No regulatory commitment to a digital pound has been made by the Bank of England, and the programme sits within the central bank’s broader consultative work on digital money.

The consortium will pursue two parallel workstreams. The first is an SME Bankable Profile, led by NOBO with both partners. It combines consent-driven wallet transaction data with open finance signals and Dun & Bradstreet’s commercial intelligence, including the D&B Commercial Graph, to produce a reusable, pre-qualified credit outcome. Polygon Labs provides the smart contract layer that anchors the verifiable credential and governs consent and deal lifecycle. The goal is a portable credit identity that an SME owns and can present to any lender or export market.

The second workstream tests an electronic bill of lading-backed invoice factoring flow. Under this model, an exporter receives an advance via a stablecoin rail while the UK importer completes final settlement in digital pounds, using Polygon’s Open Money Stack to bridge the two forms of digital money in a single transaction flow.

Ayo Ojerinola , founder and chief executive of NOBO Finance, said: “Trade finance is multi-party by nature, but the workflows, data, and settlement paths still don’t connect cleanly.


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