The Bank of England is testing a payments structure that uses stablecoins and a simulated digital pound in cross-border trade finance. The trial, run at its Digital Pound Lab, is designed to check whether stablecoin payments and digital pound settlement can work in a single flow. It uses no real customer funds. The central bank said the exercise does not signal future policy direction or endorse any company or product, and it has not decided whether to issue a digital pound.

Polygon Labs has announced additional layoffs as it works to finalise its acquisition of cryptocurrency exchange Coinme. Cointelegraph reported the move is part of a shift from a blockchain foundation to a blockchain-based payments company. CEO Marc Boiron said on X that the cuts reflect a restructuring tied to the transition, not the capabilities of departing staff. Polygon disclosed plans in January to acquire Coinme and wallet infrastructure platform Sequence in a $250 million deal.