Hyundai Motor completed a live $20,000 USDT treasury transfer between its U.S. and Mexico subsidiaries in about seven minutes. The pilot used the Avalanche blockchain and involved Hyundai Car
Hyundai Motor has completed a live $20,000 USDT cross-border treasury transfer between its U.S. and Mexico subsidiaries using the Avalanche blockchain. Hyundai Card announced the proof of concept on July 9, saying the transaction settled in about seven minutes, compared with the three to four hours typically required through traditional banking channels.
Unlike a simulated blockchain test, the pilot involved actual corporate funds. According to Hyundai Card, Hyundai Motor America converted $20,000 into USDT before sending it to Hyundai Motor Mexico.
The receiving entity then converted the stablecoins back into U.S. dollars. Hyundai Card said the full transfer, including verification, averaged about seven minutes.
The proof of concept brought together Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and blockchain payments firm Axiym. Hyundai Card also led the review of accounting, tax, legal, and internal control requirements before the transaction.
According to Hyundai Card, the project focused on preparing stablecoins for actual treasury settlements between overseas subsidiaries. The company said it designed the remittance structure, operational process, and compliance framework before completing the live payment.
The company described the pilot as preparation for real implementation rather than a simple technology demonstration. Notably, the process addressed international remittance regulations alongside payment infrastructure requirements.
Hyundai Card also said the project established the foundation for future settlement and fund transfers across Hyundai Motor Group's international operations.
Meanwhile, Hyundai Card confirmed a second proof of concept will begin later this month involving Hyundai Motor's European subsidiaries. Unlike the first test, the upcoming pilot will use local currencies instead of only U.S. dollars.
According to Hyundai Card, the second phase will examine blockchain-based transfers alongside foreign exchange costs and overall payment efficiency. Circle and Visa will participate as global partners during the European trial.
Hyundai Card said it will continue evaluating stablecoins for international remittances and payment infrastructure after completing both proof-of-concept projects. The company also plans to explore expanding the transfer mechanism to additional countries and local currencies.
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