Hyundai Completes USD₮ Treasury Pilot in Record Time

Hyundai Motor Group has successfully completed a corporate treasury pilot using Tether's stablecoin USD₮ for cross-border settlement between its U.S. and Mexican units.

The test, which was announced by Tether on July 13, involved transferring $20,000 from Hyundai Motor America to Hyundai Motor de México via the Axiym platform on the Avalanche blockchain network.

According to Tether, the full transfer and verification process took around seven minutes on average, significantly faster than traditional interbank transfers which can take several hours or more.

The pilot aimed to test the feasibility of using stablecoins for enterprise treasury operations, specifically in cross-border settlements. It also evaluated how digital dollars can support payments between overseas subsidiaries.