Hyundai Motor has completed a live cross-border treasury transfer using $20,000 in USDT, moving funds between its U.S. and Mexico subsidiaries over the Avalanche blockchain. Hyundai Card said on July 9 that the full process, including verification, took about seven minutes on average. Traditional banking rails usually take three to four hours for the same type of transfer.
Live corporate funds used in the treasury pilot
This was not a simulated blockchain exercise. According to Hyundai Card, Hyundai Motor America converted $20,000 into USDT and sent it to Hyundai Motor Mexico, where the receiving entity converted the stablecoins back into U.S. dollars. The company framed the project as preparation for actual treasury settlement between overseas subsidiaries, not a standalone technology demo.
The proof of concept involved Hyundai Card, Hyundai Motor America, Hyundai Motor Mexico, Tether, Avalanche, and blockchain payments firm Axiym. Hyundai Card also led the review of accounting, tax, legal, and internal control requirements before the transaction went live. It said the remittance structure, operating process, and compliance framework were designed in advance of the payment.
Project tied payment rails to regulatory and control checks
Hyundai Card said the pilot addressed international remittance regulations alongside payment infrastructure requirements. In its description, the project created a foundation for future settlements and fund transfers across Hyundai Motor Group’s international operations. The focus was practical use of stablecoins in treasury flows. That point was central to the test.
Second pilot in Europe will include local currencies
Hyundai Card said a second proof of concept will start later this month and will involve Hyundai Motor’s European subsidiaries. Unlike the first pilot, which used only U.S. dollars, the next phase will use local currencies. Hyundai Card said the Europe trial will examine blockchain-based transfers together with foreign exchange costs and overall payment efficiency, with Circle and Visa joining as global partners.
After both proof-of-concept projects are completed, Hyundai Card said it will keep evaluating stablecoins for international remittances and payment infrastructure. The company also plans to study whether the transfer mechanism can be expanded to more countries and more local currencies.