Overview
- Hyundai Card said Thursday, July 9, 2026, that it converted $20,000 into Tether’s USDT, routed the funds over the Avalanche blockchain and settled an intercompany payment between Hyundai Motor America and Hyundai Motor Mexico in about seven minutes.
- The pilot used Tether as the stablecoin, Avalanche for the on‑chain rails and Axiym to connect blockchain settlement with payment plumbing, while Hyundai Card led the transfer design and operational setup.
- Hyundai Card emphasized the test used real funds for an actual intercompany settlement rather than a simulated experiment and that the full process included verification and reconciliation steps.
- The company plans a second proof of concept by the end of July that will involve Hyundai Motor’s European units, add Circle and Visa as partners and expand testing to local currencies to quantify foreign‑exchange costs and bank‑rail interoperability.
- The trial fits into wider corporate interest in stablecoin settlement as a way to speed cash flows and reduce need for prefunded local accounts, but adoption hinges on regulatory, tax, accounting and internal‑control clearance as well as practical FX and banking integration outcomes.