Hyundai’s USDT pilot accelerates cross-border settlements

Hyundai’s $20,000 USDT transfer on Avalanche settled in seven minutes, showcasing stablecoins’ efficiency for global treasury operations compared to traditional banking methods.

Hyundai Motor America and Hyundai Motor Mexico have successfully completed a proof-of-concept for cross-border treasury settlement using Tether’s USDT stablecoin on the Avalanche blockchain. The pilot involved converting $20,000 into USDT, transferring it from the US to Mexico, and then converting it back into U.S. dollars. All transactions were processed through Axiym’s settlement infrastructure. Remarkably, the entire process—including transfer and verification—was completed in about seven minutes, a significant improvement over the typical three to four hours required for traditional cross-border bank transfers. Hyundai Card designed the remittance structure and managed regulatory, compliance, accounting, and operational aspects. This successful pilot highlights the potential of stablecoins and blockchain technology to streamline and accelerate corporate treasury operations. Tether noted that future phases will explore additional payment corridors and local-currency settlements, reflecting growing enterprise interest in digital asset-based payments for global business needs.