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.
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PetroChina piloting stablecoins for international energy payments to cut costs and speed settlements.
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Ripple’s RLUSD expands in Singapore through Tazapay and already has regional ties in Japan with SBI Holdings.
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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.
- PetroChina explores using stablecoins for cross-border payments to enhance energy trade and reduce transaction costs.
- Ripple’s RLUSD extends its reach in Singapore with Tazapay’s partnership, boosting stablecoin adoption in Asia.
- China’s digital yuan and stablecoin projects are gaining traction, despite internal concerns over financial stability risks.
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.
What is PetroChina exploring with stablecoins?
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.
How will Shenzhen pilot results inform PetroChina’s approach?
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.
Why is the digital yuan debate relevant?
The conversation around yuan‑backed stablecoins intersects with China’s push for internationalization of the yuan. Former People’s Bank of China Governor Zhou Xiaochuan has warned that stablecoins could introduce new financial stability risks if not carefully managed. Chinese regulators and state firms are balancing innovation with systemic risk controls.
How is RLUSD expanding in Asia and what does it mean?
Ripple’s RLUSD is expanding in Singapore through a partnership with Tazapay, following a Series B round that included Ripple as an investor. Tazapay processes over $10 billion in annual payments, positioning it as a significant conduit for RLUSD liquidity. RLUSD has also launched in Japan with SBI Holdings, signaling a regional rollout strategy focused on payments infrastructure and enterprise on‑ramping.
Frequently Asked Questions
Will PetroChina replace traditional bank settlements with stablecoins?
Not immediately. PetroChina is piloting stablecoins to complement existing settlement methods, focusing on efficiency and cost reduction while assessing regulatory and counterparty risk before any wider replacement.
How do Shenzhen pilot figures impact adoption forecasts?
High transaction volumes in Shenzhen—reported above 100,000 daily—suggest operational scalability. Corporates will watch throughput, settlement finality and compliance before broader adoption.
Are regulators in China supportive of corporate stablecoin pilots?
Regulators are cautious. Chinese authorities and former PBOC officials have highlighted stability risks, so pilots must align with regulatory expectations, particularly around AML, custody and FX exposure.
Key Takeaways
- Strategic pilots matter: Shenzhen pilots prove technical feasibility with high daily transaction counts.
- Regulatory clarity is essential: Hong Kong’s evolving rules and mainland guidance will determine corporate rollouts.
- Regional adoption accelerating: RLUSD’s ties with Tazapay and SBI Holdings show stablecoins gaining commercial traction in Asia.
Conclusion
PetroChina’s stablecoin pilots and Ripple’s RLUSD regional expansion indicate a pragmatic move toward faster, cheaper cross‑border payments in Asia. Stakeholders should monitor regulatory guidance from Hong Kong and People’s Bank of China commentary, evaluate pilot results, and prepare treasury systems for potential integration. Stay informed for next steps in corporate stablecoin adoption.
Author: COINOTAG | Published: 2025-08-30 | Updated: 2025-08-30
