Hyundai Motor America converted $20,000 into stablecoins and transferred them to Hyundai Motor Mexico, where they were exchanged back into U.S. dollars.
Key Takeaways
Hyundai Card slashed cross-border payment times to 7 minutes in a $20,000 corporate stablecoin test.Tether, Avalanche, and Axiym backed the pilot, marking a historic first for the South Korean card industry.A second pilot launches later this month with Circle and Visa to test local currencies across European units.The transaction and verification process took seven minutes. Conventional international bank transfers typically take three to four hours, according to the company.
To clear regulatory hurdles, Hyundai Card worked with Hyundai Motor to audit accounting, tax, legal, and internal compliance frameworks across both international offices before executing the trade.
“This pilot is significant because it shows that we have moved beyond a simple technical test and completed preparations for potential real-world adoption,” a Hyundai Card official said in a statement.
