Hyundai Motor completes $20k USDT pilot on Avalanche for cross-border treasury transfers, reducing settlement time to 7 minutes.
DeFi & Yields ·
Hyundai Motor completed a $20,000 USDT stablecoin transfer between its U.S. and Mexico entities on Avalanche, settling the cross-border treasury movement in approximately seven minutes—a significant reduction from the several hours required through traditional banking channels. The pilot marks the automaker's entry into blockchain-based internal fund movement and positions it as South Korea's first major company to deploy the technology for real-time cross-border treasury operations.
The company intends to extend the mechanism to additional countries and local currencies beyond the initial USDT test. A second pilot involving Hyundai's European subsidiaries, conducted with Circle and Visa, is scheduled to launch later in the month. The scope of future expansion—which currencies will be supported, how many additional jurisdictions are targeted, and the timeline for broader rollout—remains undisclosed.