China Is One Step Further Into Yuan Stablecoin: Oil Trade

China is reportedly exploring the possibility of using yuan stablecoins for oil transactions, a move that could significantly advance the international use of its currency. China National Petroleum Corporation (CNPC), one of the world’s largest energy companies, recently disclosed plans to begin a feasibility study on using stablecoins for cross-border settlements and payments. CNPC Mentions Stablecoin Payments According to Reuters, China’s State Council will discuss expanding the use of yuan stablecoins at the upcoming Shanghai Cooperation Organization (SCO) summit. The Chinese government sees stablecoins as a promising tool for expanding the yuan’s global influence source: https://beincrypto.com/china-is-one-step-further-into-yuan-stablecoin-oil-trade/