United Kingdom: Bank of England issued update on digital pound, including launch of digital pound lab

On 23 October 2025, the Bank of England issued an update on the digital pound project. The project explores a central bank digital currency to complement cash and private digital money, applying to the retail payments sector, banks, financial technology firms and payment providers. The update included information on advancing technical infrastructure and experimentation to support private-sector innovation, exploring interoperability between digital and existing money, and integrating stakeholder evidence into the design. It also highlighted recent developments, including launching the digital pound Lab as an experimental platform for industry to test use cases and explore potential business models. It also highlighted publishing design notes on interoperability, offline payments and intermediary roles, and expanding engagement across sectors and regions.