Hyundai Card, the financial services unit of Hyundai Motor Group, has completed a successful proof-of-concept for cross-border corporate payments using the USDT stablecoin on the Avalanche blockchain. The company is now preparing to evaluate whether the system can support substantially higher transaction volumes required for broader group operations.

Details of the July Pilot Transaction

In July, Hyundai Card executed an intercompany transfer of $20,000 between Hyundai Motor America and Hyundai Motor Mexico. The process began with the conversion of U.S. dollars into Tether’s dollar-pegged USDT stablecoin. The tokens were then moved across the Avalanche network to the Mexican affiliate, which subsequently converted them back into U.S. dollars.

The end-to-end transaction, including remittance and verification, averaged approximately seven minutes. Traditional banking channels for a comparable intercompany transfer typically require three to four hours. The pilot used genuine corporate funds rather than simulated assets and addressed an actual settlement need between the two entities.

Participants in the trial included Hyundai Card, Hyundai Motor, Tether, Avalanche, and the blockchain payments infrastructure firm Axiym. Hyundai Card managed regulatory review, accounting, tax considerations, internal controls, and the overall remittance structure prior to the fund movement.

Focus Shifts to Scalability and Economic Viability

Following the initial pilot, Hyundai Card is concentrating on proving that the operational model can function reliably at greater scale. Heejung Nam, Head of Payments and Business Development at Hyundai Card, stated the priority clearly.

The company is examining whether existing infrastructure can accommodate the higher volumes and operational complexity associated with Hyundai Motor Group’s global activities. No specific target transaction amounts, volume thresholds, or performance metrics have been disclosed for this next phase.

Hyundai Card has indicated that successful scaling would be necessary before the approach could become a routine element of corporate treasury processes. At present, the firm has not announced a timeline for group-wide adoption or confirmed plans for full commercial deployment.

Earlier Plans for European Testing

After the North American pilot, Hyundai Card outlined intentions to conduct a second proof of concept involving European entities. That phase was expected to test settlements involving currencies other than the U.S. dollar and to involve additional partners. Public materials available as of mid-September do not confirm completion of the European trial or provide related performance data.

The company continues to evaluate stablecoin-based solutions for international remittances, settlements, and payment infrastructure across its overseas operations. The confirmed activity remains limited to the completed $20,000 U.S.-Mexico transfer and the subsequent focus on demonstrating scalable performance of the underlying model.