Hyundai Card announced that it has successfully completed its first real-world pilot study in the field of stablecoin-based cross-border payments.
According to the company’s statement, $USDT The experiment was conducted between Hyundai Motor’s subsidiaries in the United States and Mexico as part of a proof-of-concept (PoC) process conducted in collaboration with Tether and Avalanche. Therefore, this test went beyond just a theoretical blockchain experiment to a practical application based on real-world payment needs within enterprises.
According to information shared, Hyundai Motor America will spend $20,000 on $USDT It then transmitted it to troops in Mexico via the Avalanche network. The amounts were then converted to dollars.
The entire process took approximately 7 minutes. Hyundai Card highlighted that a similar transaction in traditional interbank international transfers can take three to four hours, noting that the stablecoin-based structure offers significant efficiencies in terms of time.
Company officials said the real importance of the pilot study is that it relies on real-world commercial use cases. The statement explained that the transaction was undertaken to address the need for genuine internal coordination among Hyundai Motor’s overseas subsidiaries, and the results therefore have practical value.
Hyundai Card reportedly played a leading role in areas such as regulatory review, legal and tax management, internal audit evaluation, and design of transfer structures within the scope of the project. Axiym, a blockchain payment infrastructure company, was also one of the parties participating in the PoC process.
Hyundai plans to launch a second stablecoin trial later this month. This new proof of concept (PoC) will be conducted between Hyundai subsidiaries in Europe with the participation of Visa and USDC issuer Circle. The second phase will test actual stablecoin transfers based on various local currencies, not just the dollar. Through this process, the company aims to more comprehensively measure the cost efficiency of stablecoin-based international payments.
*This is not investment advice.
