Revolutionizing Oil Trade: China's Digital Yuan Shakes Up Cross-Border Payments 🇨🇳 🌎

Shanghai Petroleum and Natural Gas Exchange has successfully completed its cross-border trade using Digital Yuan. 💰

This milestone not only signifies a major leap in the evolution of Digital Yuan’s economy but also sets a new era for cross-border transactions. ✍🏻

In this regard, PetroChina achieved a historic record by settling one million barrels of crude oil using the digital e-CNY, it marks the first cross-border oil deal by a CBDC. 💥

Furthermore, this development gains significance against the backdrop of China's dominant position in global oil imports, with the majority originating from the Middle East. 🇸🇦

In conclusion, if adopted at scale, the e-CNY could bridge offshore Renminbi platforms with the international market, promoting the wider use of its currency on a global scale… ⏰

Digital Yuan is not just making waves, it's reshaping the landscape of cross-border finance. 🔍


“When we were young…” 🎶


Joaquim Matinero Tor
Banking-financial & Blockchain lawyer

#cbdc #BTC #bitcoin
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