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Saudi Arabia plans to use digital currency to trade oil and the market expects a new chapter

Saudi Arabia recently announced plans to incorporate digital currency into its oil sales system, but has not yet revealed which digital currency it will use. At a time when digital currencies are on the rise, combined with current market trends and currency value performance, we speculate that the following digital currencies could become the new favorites for Saudi oil trading:

1.Bitcoin (BTC)

As it is the digital currency with the highest market value in the world, Bitcoin is undoubtedly the one that attracts the most attention in the market. If Saudi Arabia chooses Bitcoin, it will undoubtedly bring great vitality to the digital currency market.

2. Ethereum (ETH)

As a pioneer in smart contracts, Ethereum has attracted a lot of attention for its powerful application prospects. If Saudi Arabia chooses Ethereum, it could open a new chapter in combining energy and blockchain technology.

3. Petro Coin (PTR)

The Petro Coin launched by Venezuela is the first cryptocurrency backed by national oil resources. Its unique model and experience can serve as a reference for Saudi Arabia. If Saudi Arabia adopts the petro currency or a similar model, it will be a major innovation in traditional energy trading methods.

4. Tether (USDT)

As a stablecoin pegged to the US dollar, Tether has been widely recognized by the market for its low volatility and high liquidity. If Saudi Arabia chooses Tether, it will help reduce currency risks in oil transactions.

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