China National Petroleum Corporation targets stablecoin for cross-border payments

China Petroleum Group (, code 00857.HK), announced at the half-year results conference on August 29, 2025, that the company will conduct a feasibility study on the use of stablecoin for cross-border payments, in order to adapt to the new regulatory framework in Hong Kong. CFO Wang Hua confirmed that the company is closely following the licensing plan of the Hong Kong Monetary Authority, aiming to test stablecoin for payment purposes and to reduce transaction costs.

This move indicates a strategic turning point for China's traditional energy sector, paving the way for financial transparency and promoting the internationalization of the yuan. Although it has not yet received official support from officials or the cryptocurrency sector, analysts believe that the initiative could reshape cross-border cooperation.