Hyundai Card completes USDT cross-border payment test

Hyundai Card, the financial services arm of Hyundai Motor Group, has successfully completed a proof-of-concept test using a stablecoin to settle a cross-border payment between two of the automaker's overseas subsidiaries. The transaction, which involved a transfer of $20,000 from Hyundai Motor America to Hyundai Motor Mexico, was settled in approximately seven minutes using Tether's USDT stablecoin on the Avalanche blockchain network.

The company announced the results on Thursday, July 9, 2026, emphasizing that the test was conducted in connection with an actual intercompany settlement need, not as a theoretical exercise. A Hyundai Card spokesperson said the initiative was meaningful because it moved beyond a simple technical test and completed preparations for potential real-world adoption. The process involved converting U.S. dollars into USDT, transferring the stablecoins via the Avalanche blockchain, and then converting them back into dollars on the receiving end.

Hyundai Card stated that the same transaction using traditional interbank wire systems typically takes three to four hours. The company led the project's design, conducting necessary legal, regulatory, tax, and...