Saturday, December 14, 2024

Tag: Chinese digital yuan CBDC used for first time to settle cross-border oil deal

Chinese digital yuan CBDC used for first time to settle cross-border oil deal

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by Derek Andersen, Coin Telegraph:

CBDC and de-dollarization saw major strides last week with the 1-million-barrel deal on the Shanghai Petroleum and Natural Gas Exchange.

The digital yuan has been used for the first time to settle an oil transaction, the Shanghai Petroleum and Natural Gas Exchange (SHPGX) announced. PetroChina International bought 1 million barrels of crude on Oct. 19.

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