Hyundai Completes US$20,000 Cross-Border USDT Transfer in 7 Minutes Using Avalanche

According to an announcement on July 9, Hyundai Motor's U.S. and Mexican units completed a cross-border treasury transfer of US$20,000 using Tether's USDT on the Avalanche blockchain in about seven minutes. The companies converted the funds into USDT at the sending end, transferred them across Avalanche, and converted back to dollars in Mexico. A conventional interbank transfer on the same corridor takes three to four hours.

Hyundai Card coordinated the accounting, tax, legal and internal-control review. Tether, Ava Labs, and Axiym also participated. A second pilot is planned for late July among Hyundai's European subsidiaries, where Circle and Visa will test Circle's USDC stablecoin and local-currency transfers.