On July 9, 2026, Hyundai Card (the payments arm of Hyundai Motor Group) announced the successful completion of a Proof of Concept (PoC) for cross-border stablecoin transfers between Hyundai Motor subsidiaries.

Hyundai Motor America converted $20,000 USD into USDT (Tether) on the Avalanche blockchain. Funds were sent to Hyundai Motor Mexico, where they were converted back to USD.

The entire process (conversion + transfer + verification) took ~7 minutes, compared to 3–4+ hours for traditional bank wires.

This marks Hyundai as the first major South Korean conglomerate to use stablecoins for real intercompany settlements (not just a tech demo), advancing corporate treasury management.