Hyundai Tests Stablecoin Remittance on Avalanche

Hyundai has successfully tested the use of stablecoins in its corporate treasury pilot, moving $20,000 through USDT on Avalanche between its U.S. and Mexico entities. The test, which is one of South Korea's first major corporate tests of blockchain-based internal treasury settlement, took about seven minutes to complete.

The transaction converted funds from Hyundai Motor America into USDT, sent the tokens to Hyundai Motor Mexico, and then converted the amount back into dollars. This process would normally take over three hours through traditional interbank rails.

Hyundai plans a second proof of concept for its European subsidiaries later this month, which will test stablecoin transfers tied to local currencies and foreign-exchange costs with Circle and Visa joining the pilot.