Hyundai Motor’s U.S. and Mexico subsidiaries have completed a pilot for cross-border transfers using the Tether USDT stablecoin, transferring $20,000 in approximately seven minutes on the Avalanche blockchain, whereas traditional cross-border bank transfers typically take more than 3 to 4 hours. The pilot process is as follows: Hyundai U.S. first converts funds into USDT, then transfers the stablecoin via the Avalanche network to Hyundai Mexico, and finally converts it back into dollars.
Hyundai USDT Pilot Process and Axiym-Hyundai Card Architecture
According to Tether’s description, the architecture used for Hyundai Motor’s cross-border treasury transfer pilot is: Axiym (built on Avalanche subnets) provides settlement infrastructure, Hyundai Card designs the remittance structure, and regulatory compliance, accounting, and operational requirements are overseen concurrently.
The pilot’s design goal is to assess whether stablecoin settlement can be integrated into the company’s existing treasury and financial operations without changing governance, compliance, or accounting systems. The next phase plans to expand to more payment corridors and local-currency settlement.
Current Market Snapshot of Stablecoin Adoption in Corporate Treasuries
Based on reports from multiple sources, the key recent data on stablecoin use in corporate treasuries is as follows:
Kyriba and Circle Partnership: In April 2026, treasury management software provider Kyriba partnered with Circle to integrate USDC into corporate treasury platforms, enabling treasury teams to handle cross-border and internal settlements during non-banking business hours.
Bitso Business Report: In the first half of 2026, stablecoin trading volume grew by 81%, and over 60% of new corporate customers are banks and licensed payment institutions.
Paybis Survey: 22.5% of surveyed companies have already used—or plan to use—stablecoins for international payments within the next 12 months.
McKinsey Research: Intercompany transactions account for about 60% of 2025 global stablecoin payment volume ($39 billion).
Total Stablecoin Market Cap: About $312.3 billion (up about 21.5% from $257.1 billion a year earlier).
Common Questions
What is the specific process for Hyundai Motor’s USDT cross-border settlement pilot?
According to Tether’s description, the process is: Hyundai U.S. first converts funds into USDT, transfers the USDT via Axiym infrastructure on the Avalanche network to Hyundai Mexico, and Hyundai Mexico then converts the received USDT back into dollars; the entire process takes about seven minutes, compared with more than 3 to 4 hours for traditional cross-border bank transfers, resulting in a major efficiency improvement.
What role does Hyundai Card play in this pilot?
According to reports, Hyundai Card is responsible for designing the remittance structure for the pilot and overseeing regulatory compliance, accounting, and operational requirements; the purpose of the pilot is to evaluate whether stablecoin settlement can be integrated into the company’s existing treasury and financial operations without changing existing governance, compliance, or accounting systems. The next phase plans to expand to more payment corridors and local-currency settlement.
How large is the current market for stablecoin applications in corporate treasuries?
Based on data cited by McKinsey, intercompany transactions account for about 60% of 2025 global stablecoin payment volume ($39 billion); the Bitso Business report shows that corporate stablecoin trading volume increased by 81% in the first half of 2026; the total stablecoin market cap is currently about $312.3 billion, up about 21.5% year over year.
