PetroChina: closely monitoring the Hong Kong stablecoin, will initiate cross-border settlement feasibility study

BlockBeats News, August 29th, China Petroleum (00857.HK) revealed at its semi-annual earnings conference that it is closely following the Hong Kong Monetary Authority's stablecoin licensing policy and is planning to launch a feasibility study on using stablecoins for cross-border settlement and payments.

As one of China's largest state-owned energy enterprises, China Petroleum has become one of the first traditional energy giants to publicly respond to Hong Kong's "Stablecoin Regulation."