- Hyundai completed its first live stablecoin remittance.
- The transfer used USDT on Avalanche.
- Settlement took around seven minutes.
- A second pilot with Visa and Circle begins later this month.
Hyundai Card has completed its first real-world stablecoin payment pilot, demonstrating how blockchain can speed up international corporate settlements.
The pilot involved Hyundai Motor America sending $20,000 in USDT over the Avalanche network to its Mexican affiliate before converting the funds back into dollars. The entire process took approximately seven minutes, compared to several hours using traditional banking rails.
Unlike many blockchain demonstrations, Hyundai emphasized that the transaction supported an actual business payment between company entities rather than a test environment.
Hyundai Card managed the regulatory, legal, tax, and operational aspects of the project, while blockchain payments firm Axiym also participated.
The company will launch a second pilot later this month involving European subsidiaries, with Visa and Circle joining the initiative. That phase will test stablecoin payments using multiple local currencies instead of only U.S. dollars.
The successful pilot reflects growing interest from global corporations in using stablecoins for faster and lower-cost cross-border payments.
