- Hyundai completed a cross-border treasury transfer using USD₮ on Avalanche in about seven minutes.
- The pilot tested stablecoins as a faster, more transparent way to move funds between global subsidiaries.
- Hyundai will expand stablecoin trials to Europe with Visa and Circle, exploring multi-currency payments.
Companies are increasingly testing stablecoins to speed up cross-border payments, and Hyundai has now joined that push. Hyundai Motor America and Hyundai Motor de México completed a cross-border treasury transfer using Tether’s USD₮ stablecoin on the Avalanche blockchain.
According to an announcement by Tether, the pilot involved Hyundai Motor America converting $20,000 into USD₮ before sending the funds to its Mexican unit. After receiving the payment, Hyundai Motor de México converted the stablecoins back into U.S. dollars.
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The pilot brought together Tether, Hyundai Motor America, Hyundai Motor de México, and payment infrastructure provider Axiym. Hyundai Card designed the remittance structure and oversaw compliance, accounting, operational, and regulatory requirements throughout the project.
Beyond testing faster payments, Hyundai used the pilot to assess whether blockchain-based settlement could support treasury operations between its subsidiaries. The initiative reflects growing interest among global companies in using stablecoins to move money across borders more efficiently.
“Stablecoins are becoming a critical part of the next generation of global financial infrastructure,” Tether Chief Executive Officer Paolo Ardoino said.
He said USD₮ is helping connect traditional financial systems with blockchain-based infrastructure, giving businesses another option to streamline cross-border settlements.
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Interest in stablecoins is growing as more companies look for faster ways to move money across borders and manage corporate funds. Many businesses are exploring digital dollars as an alternative to traditional payment systems, where transfers can be delayed by banking hours and settlement times.
During the pilot, Axiym’s payment infrastructure enabled the USD₮ transfer to be completed and verified in about seven minutes. The results showed how stablecoins could speed up international payments while giving companies better visibility into cross-border transactions.
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More Tests Planned Across Europe
Hyundai plans to begin a second proof of concept later this month involving its European operations. The next pilot will also include Visa and USDC issuer Circle.
Unlike the first test, which focused on U.S. dollar transfers, the new pilot will assess stablecoin payments involving multiple local currencies. Hyundai will use the trial to evaluate whether stablecoin-based transfers can reduce costs across a wider range of cross-border transactions.
The project comes as more payment companies expand their use of stablecoins. Visa already supports stablecoin settlement on the Polygon blockchain, while Nium recently acquired Cypher to strengthen its stablecoin payment services.
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