Digital yuan used to settle crude oil trade
Chinese oil company Petro China reportedly bought one million barrels of crude oil in digital yuan
China’s digital yuan was used to settle a cross-border crude oil transaction for the first time, according to the Shanghai Petroleum and Natural Gas Exchange (SHPGX).
State-owned Petro China International Corporation bought an undisclosed amount of crude oil via the exchange on October 27 using a digital wallet opened at the Bank of Communications.
The exchange did not disclose the value of the transaction or the identity of the seller, but newspaper China Daily said Petro China had bought one
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