PetroChina Makes History with Digital Yuan Oil Trade
Chinese oil and gas giant PetroChina has achieved a historic milestone by completing the first international crude oil trade using China’s central bank digital currency (CBDC), the e-CNY.
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Chinese oil and gas giant PetroChina has achieved a historic milestone by completing the first international crude oil trade using China’s central bank digital currency (CBDC), the e-CNY.
According to China Daily, PetroChina purchased 1 million barrels of crude oil settled in e-CNY at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on October 18.
The precise value of the deal and the seller’s identity were not disclosed by the SHPGX.
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