Hyundai Completes First Live Stablecoin Remittance, Transfers $20,000 via USDT on Avalanche in 7 Minutes

According to Avalanche, Hyundai Card and Hyundai Motor Company completed their first live cross-border stablecoin remittance on July 9, transferring $20,000 via USDT on the Avalanche blockchain to settle funds between Hyundai Motor America and its Mexican subsidiary.

The pilot took approximately seven minutes to complete, compared with three to four hours typically required for conventional intercompany bank transfers. The transfer involved converting U.S. dollars into USDT, transferring the stablecoins across borders, and converting back to fiat upon receipt. Blockchain payments infrastructure firm Axiym also participated in the proof of concept, which demonstrated that stablecoins can streamline corporate treasury operations while maintaining compliance with internal governance and financial controls.