#Bank of England Tests Digital Pound#

The Bank of England plans to launch a "digital pound lab" this year, aiming to explore the feasibility of a central bank digital currency (CBDC). The lab will focus on addressing challenges with existing payment systems, testing innovative use cases for a digital pound, and providing insights for potential digital pound development. This initiative indicates that the Bank of England's exploration of a digital pound has entered a substantial phase, and will evaluate its feasibility and potential applications through practical testing. The establishment of the lab will provide the Bank of England with valuable experience to help develop a concrete plan for a future digital pound and provide important reference for the digital transformation of the UK's financial system.