The Shanghai Petroleum and Natural Gas Exchange

(SHPGX) stated that the digital yuan, China’s central bank digital currency (CBDC), was utilized to settle an oil transaction for the first time.

On October 19, PetroChina International purchased one million barrels of crude in response to the Shanghai Municipal Party Committee and Municipal Government’s request to apply the CBDC to international commerce. The name of the vendor and the price were not published.