In the wake of the recent organizational developments in Hong Kong, it is said that the largest oil and gas producer in Asia is evaluating the Stablecoins adoption of the cross -border payments.
Petrochina is the adoption of stablecoin
Friday, local news media I mentioned Petrochina, the arm, is the state -owned patriotic China (CNPC), will explore the cross -border settlement and payments using Stablecoins.
According to reports, Wang Hua, Financial Director (CFO) and Petrochina Secretary, revealed during the half -year meeting that the company is closely monitoring the latest developments related to the power of Stablecoin’s Stablecoin power (HKMA).
In May, the Hong Kong Legislative Council officially approved the new Stablecoins Decree, directing any individual or entity seeking a distinctive reference reference (FRS) in the judicial state, or any Hong Kong dollars (HKD), to obtain a license from HKMA.
The decree, which was on August 1, aims to enhance organizational control over the digital asset industry, while enhancing “responsible and sustainable” development. Under the new framework, the authorized entities are allowed to introduce FRS in Hong Kong. Meanwhile, retail investors can only reach the symbols issued by these qualified institutions.
The financial secretary at Hong Kong, Paul Chan Mo Bo, previously pointed out that Stablecoins, “especially when it is referred to in the Fiat currencies, (has) the use of many cases of cases scenarios”, including cross -border payments to enhance efficiency and reduce costs.
Petrochina is said to be a feasibility study on the use of Stablecoins for settlement and border payments, which represents the entry of the Chinese energy giant into the scene of digital assets under the new organizational framework of Hong Kong.
Hong Kong, the Landscape of Chinese encryption
As the report indicated, Wang Hua did not reveal a specific timetable, noting only that the company “will closely monitor the developments of politics and build technical capabilities.” This may indicate that the exploration of Stablecoin from Petrochina is still in the search phase.
It should be noted that HKMA established a six -month transition period and encouraged institutions interested in submitting applications before September 30. Hong Kong Financial Secretary said that the organizers have received many requests from entities that seek to become qualified sources.
Previous reports revealed that many companies have applied for the HKMA license before the age of the decree, including the Ritar Logtech and ARM abroad for the Chinese Financial Technology Group.
Meanwhile, the JD.com e-commerce giant, through his Fintech JD COINLINK arm, was testing the distinctive symbols of HKD-PEGID within the organizer Sandbox program earlier this year. Despite Hong Kong’s encryption batch, the authorities warned of excessive noise in the market and public opinion, which raised concerns about the developing trend towards speculation because the market has become “very excited”.
Likewise, it was claimed that the Chinese organizers have issued instructions to companies to stop promotions and research publications related to Stablecoins, amid fears that increasing interest in the sector could enable digital assets as a new tool for fraudulent activities.
However, Eric Trump, US President Donald Trump, highlighted the role of China in the encryption industry. In Bitcoin ASIA 2025, the American businessman stressed that the country is “hell of power” in this sector, adding that the United States and China are likely to understand digital assets “better than anyone else in the world.”
“There is no doubt that China is the hell of power when it comes to this world,” Trump said, noting that he will love President Trump and his Chinese counterpart, Xi Jinping, to talk about Bitcoin.
Bitcoin's performance in the one-week chart. Source: BTCUSDT on TradingView
Distinctive photo of Unsplash.com, Chart from Tradingview.com
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