TLDR
- Hyundai Card completed a $20K stablecoin transfer test.
- The transfer used USDT on the Avalanche blockchain.
- Hyundai Motor’s US and Mexico units took part in the test.
- The cross-border transfer settled in about seven minutes.
- Hyundai Card plans a Europe stablecoin trial with Visa and Circle.
Hyundai Card has completed a stablecoin-based cross-border transfer test between Hyundai Motor’s U.S. and Mexico units, settling a $20,000 intercompany payment in about seven minutes.
The card and payments unit of Hyundai Motor Group said the proof of concept used Tether’s USDT on the Avalanche blockchain. Hyundai Motor America converted $20,000 into stablecoins, sent the funds to Hyundai Motor Mexico, and the Mexico unit converted the amount back into U.S. dollars.
Hyundai Card said the test was faster than conventional bank transfers, which usually take three to four hours for similar cross-border settlement flows. The company said the project also tested legal, accounting, tax, and internal control requirements linked to overseas corporate payments.
Hyundai Tests USDT Transfer on Avalanche
Hyundai Card said the stablecoin remittance was not only a technical trial but was linked to an actual intercompany settlement need between Hyundai Motor’s overseas entities. The company described the test as the first stablecoin-based cross-border transfer proof of concept by a Korean card company.
Stablecoin issuer Tether, blockchain network Avalanche, and blockchain payments infrastructure firm Axiym took part in the transfer. Hyundai Card led the design of the remittance structure and built the process around corporate settlement controls.
A Hyundai Card spokesperson said,
“What makes this particularly meaningful is that the PoC was conducted in connection with actual intercompany settlement needs between Hyundai Motor’s overseas entities, not as a theoretical blockchain experiment.”
The company said the full process, from transfer to verification, took about seven minutes. That timing is the main comparison point with traditional banking rails, where similar transfers can take several hours or longer depending on banking partners and compliance checks.
Europe Trial to Add Visa and Circle
Hyundai Card plans to begin a second proof of concept later this month involving Hyundai Motor subsidiaries in Europe. The next phase will expand the trial beyond dollar-based transfers.
Visa and Circle are expected to join the European test. The company said the second phase will include stablecoin remittances across multiple local currencies and assess whether blockchain-based transfers can lower currency conversion and settlement costs.
The upcoming trial will also help Hyundai Card review whether stablecoin transfers can support wider cross-border payment infrastructure. The company said it is preparing for possible real-world use cases rather than limiting the work to controlled blockchain testing.
A Hyundai Card official said,
“This PoC is significant because it shows that we have moved beyond a simple technical test and completed preparations for potential real-world adoption.”
Stablecoin Payments Gain Corporate Interest
Hyundai Card’s test adds to growing corporate interest in stablecoins for cross-border transfers, treasury operations, and settlement. Companies are testing whether blockchain-based payment rails can reduce settlement time while keeping funds traceable.
Other firms have also moved into stablecoin payment infrastructure. SBI Remit partnered with Fasset to build stablecoin systems for remittances and treasury use, while MassPay integrated Coinbase’s USDC payment infrastructure into a global payout network across 180 countries.
Stablecoins are increasingly being tested for business-to-business payments because they can move value across borders without relying only on traditional correspondent banking routes. Companies are also assessing whether onchain settlement can reduce the need to prefund accounts in several markets.
Hyundai Card said it will continue exploring stablecoin use in international remittance and payment infrastructure. The next tests will show whether the company can expand from a $20,000 USDT transfer to broader local-currency settlement across Hyundai Motor’s global network.
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