Hyundai Completes Lightning-Fast Stablecoin Transfer on Avalanche Network

Hyundai Motor has made significant strides in using blockchain technology for internal cross-border treasury transfers. The company recently completed a $20,000 USDT transfer between its United States and Mexico units on the Avalanche network.

The transaction settled in approximately seven minutes, outperforming traditional interbank transfers that typically take three to four hours. This pilot project was run by Hyundai Card in collaboration with Tether, Ava Labs, and payments firm Axiym.

Hyundai plans to expand this mechanism to more countries and local currencies. A second European pilot is expected later this month, involving Circle and Visa. The company's goal is to assess how stablecoins can speed up internal settlements and explore its use in various regions.