Hyundai Card said it completed an initial proof-of-concept for cross-border stablecoin remittances between Hyundai Motor America and Hyundai Motor Mexico, The Korea Herald reported July 9. The test used Tether’s USDT on Avalanche and involved payments infrastructure firm Axiym, making stablecoin settlement a treasury workflow rather than a lab-only experiment.
In the test, Hyundai Motor America converted $20,000 into USDT, sent it to Hyundai Motor Mexico and converted it back into dollars. The full process, including transfer and verification, took an average of seven minutes versus roughly three to four hours for conventional bank transfers, giving Hyundai entities a clearer benchmark for speed and operational readiness.
Hyundai Card plans a second proof-of-concept later this month between Hyundai Motor’s European entities, adding Circle and Visa as partners. That phase will test local-currency remittances outside the U.S. dollar corridor, so foreign-exchange efficiency becomes the next operational question.
Source: The Korea Herald.
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