{"id":44862,"date":"2025-08-30T04:46:34","date_gmt":"2025-08-30T04:46:34","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=44862"},"modified":"2025-08-30T04:46:34","modified_gmt":"2025-08-30T04:46:34","slug":"petrochina-eyes-stablecoin-integration-as-eric-trump-praises-chinas-crypto-power","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=44862","title":{"rendered":"PetroChina Eyes Stablecoin Integration As Eric Trump Praises China\u2019s Crypto Power"},"content":{"rendered":"
\n

Following the recent regulatory developments in Hong Kong, Asia\u2019s largest oil and gas producer, PetroChina, is reportedly evaluating the adoption of stablecoins for cross-border payments.<\/p>\n

PetroChina Considers Stablecoin Adoption<\/h2>\n

On Friday, local news media outlets reported<\/a> that PetroChina, the listed arm of state-owned China National Petroleum Corporation (CNPC), will explore cross-border settlement and payments using stablecoins.<\/p>\n

According to the reports, Wang Hua, Chief Financial Officer (CFO) and Board Secretary of PetroChina, disclosed during the half-year meeting that the company is closely monitoring the latest developments regarding the Hong Kong Monetary Authority\u2019s (HKMA) Stablecoin Ordinance.<\/p>\n

In May, Hong Kong\u2019s Legislative Council officially passed<\/a> the new Stablecoins Ordinance, directing any individual or entity seeking to issue a fiat-referenced stablecoin (FRS) in the jurisdiction, or any Hong Kong Dollar (HKD)-pegged token, to obtain a license from the HKMA.<\/p>\n

The ordinance, enacted on August 1, aims to reinforce regulatory oversight on the digital assets industry, while fostering innovation and \u201cresponsible, sustainable\u201d development. Under the new framework, licensed entities are allowed to offer FRS in Hong Kong. Meanwhile, retail investors can access the tokens issued only by these qualified institutions.<\/p>\n

Hong Kong\u2019s Financial Secretary, Paul Chan Mo-po, previously noted that stablecoins, \u201cparticularly when it is referenced to fiat currencies, (have) many use case scenarios,\u201d including cross-border payments to enhance efficiency and reduce costs.<\/p>\n

PetroChina will reportedly initiate a viability study on the use of stablecoins for cross-border settlement and payments, marking the Chinese<\/a> energy giant\u2019s entry into the digital assets landscape under Hong Kong\u2019s new regulatory framework.<\/p>\n

HK, China Crypto Landscape<\/h2>\n

As the report noted, Wang Hua didn\u2019t disclose a specific timeline, only stating that the company would \u201cclosely monitor policy developments and build technical capabilities.\u201d This could suggest that PetroChina\u2019s stablecoin exploration remains in the research phase.<\/p>\n

It\u2019s worth noting that the HKMA established a six-month transition period and encouraged interested institutions to submit applications before September 30. Hong Kong\u2019s Financial Secretary has stated that regulators received several applications from entities seeking to become qualified issuers.<\/p>\n

Previous reports revealed that multiple companies have applied for the HKMA license ahead of the ordinance enactment, including logistics technology firm\u00a0Reitar Logtech and the overseas arm of Chinese mainland financial technology giant Ant Group.<\/p>\n

Meanwhile, e-commerce giant JD.com, through its fintech arm JD Coinlink, was testing HKD-pegged tokens under the regulator\u2019s sandbox program earlier this year. Despite Hong Kong\u2019s crypto push, authorities have warned<\/a> about the excessive hype in the market and public opinion, raising concerns over a developing trend toward speculation as the market has become \u201coverly enthusiastic.\u201d<\/p>\n

Similarly, Chinese regulators have allegedly instructed firms to halt promotions and research publications related to stablecoins amid concerns that the growing interest in the sector could enable the digital asset to be exploited as a new tool for fraudulent activities.<\/p>\n

Nonetheless, Eric Trump, son of US President Donald Trump, recently highlighted<\/a> China\u2019s role in the crypto industry. At Bitcoin Asia 2025, the American businessman affirmed that the country is a \u201chell of a power\u201d in the sector, adding that the US and China likely understood digital assets \u201cbetter than anyone else in the world.\u201d<\/p>\n

\u201cThere\u2019s no question that China is a hell of a power when it comes to this world,\u201d Trump said, stating that he would love for President Trump and his Chinese counterpart, Xi Jinping, to talk about Bitcoin.<\/p>\n

\"stablecoin,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Following the recent regulatory developments in Hong Kong, Asia\u2019s largest oil and gas producer, PetroChina, is reportedly evaluating the adoption of stablecoins for cross-border payments. PetroChina Considers Stablecoin Adoption On Friday, local news media outlets reported that PetroChina, the listed arm of state-owned China National Petroleum Corporation (CNPC), will explore cross-border settlement and payments using […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-44862","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44862"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/44862\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}