Hyundai Card, Hyundai Motor complete $20,000 USDT remittance proof of concept

Hyundai Card and Hyundai Motor have completed a proof of concept for stablecoin-based cross-border remittances, moving $20,000 in USDT between Hyundai Motor entities in the United States and Mexico over Avalanche in about seven minutes. The transaction used real funds for an actual intercompany settlement, with Hyundai Motor America converting $20,000 into USDT, sending it to the Mexico office and converting it back into dollars. Hyundai Motor has launched the system internally on Avalanche, and CoinDesk described it as the first publicly disclosed major South Korean company to use stablecoins for cross-border treasury settlement. Hyundai Card said the transfer took roughly seven minutes compared with three to four hours for traditional bank transfers. Tether and blockchain payment infrastructure company Axiym participated in the test, while Hyundai Card said it handled regulatory review, legal and tax checks, internal control considerations and the remittance structure. A second proof of concept is scheduled to begin later this month between Hyundai Motor entities in Europe, with Visa and USDC issuer Circle joining to test real-world stablecoin remittances involving local currencies beyond the U.S. dollar and to assess cost efficiency.