PetroChina is piloting stablecoins to streamline cross-border energy settlements, reduce FX friction and lower transaction costs, while Ripple’s RLUSD expands in Asia via Singapore’s Tazapay partnership to increase stablecoin liquidity and on‑ramps for regional payments.
PetroChina piloting stablecoins for international energy payments to cut costs and speed settlements.
Ripple’s RLUSD expands in Singapore through Tazapay and already has regional ties in Japan with SBI Holdings.
Shenzhen pilots handle over 100,000 daily transactions; Tazapay processes more than $10 billion yearly, indicating scale potential.
PetroChina stablecoins: PetroChina pilots stablecoins for cross‑border energy payments; read how RLUSD expands in Singapore — learn implications and next steps.
PetroChina explores stablecoins for cross-border energy payments. Ripple extends RLUSD’s reach in Singapore with the Tazapay partnership.
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China National Petroleum Corporation (PetroChina) has announced plans to explore stablecoin technology for international energy trade. The company aims to test mechanisms that could make cross‑border settlements faster and less costly through state‑backed initiatives and pilot programs.
The Chief Financial Officer of PetroChina said at the semi‑annual results conference that the company is assessing stablecoin use cases. Executives emphasized monitoring Hong Kong’s evolving stablecoin regulatory framework as a critical factor for enabling broader international transactions.
PetroChina is testing stablecoins to facilitate cross‑border energy settlements, reduce foreign‑exchange exposure and lower transactional friction. The initiative builds on local pilot projects and seeks alignment with Hong Kong regulatory guidance to enable larger scale corporate use.
Shenzhen pilot projects already use stablecoins to swap the Hong Kong dollar and China’s digital yuan. Xiongdi Technology’s system reportedly processes more than 100,000 transactions per day, demonstrating operational capacity and faster settlement times. PetroChina plans to evaluate scalability, counterparty risk and compliance lessons from these pilots.
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Source: https://en.coinotag.com/petrochina-could-use-stablecoins-for-cross-border-energy-payments-as-ripples-rlusd-expands-in-singapore/