Digital Yuan’s Use in Oil Transaction Heralds Broader CBDC Adoption, Raises Surveillance Concerns

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https://twitter.com/ClownWorld_/status/1717585214904418362

 

PetroChina Completes First International Crude Oil Trade in Digital Yuan: Report

Chinese oil and gas company PetroChina (0857) has completed the first international crude oil trade using the country’s central bank digital currency (CBDC), the e-CNY, China Daily reported on Saturday.
PetroChina bought 1 million barrels of crude oil settled in e-CNY, or digital yuan, at the Shanghai Petroleum and Natural Gas Exchange (SHPGX) on Oct. 18, according to the report by the Chinese Communist Party-owned newspaper.
The SHPGX did not disclose the exact value of the deal nor the seller’s identity.

 

 

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