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Hyundai launches internal stablecoin transfers via Avalanche

In the first phase, Hyundai moved $20,000 from its U.S. unit to Mexico using USDT, cutting typical transfer times from 3 to 4 hours to about seven minutes.

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CoinDesk reports Hyundai has become the first major South Korean company to put internal stablecoin transfers into production using the Avalanche blockchain for live cross-border treasury movements between subsidiaries.

In its initial phase, Hyundai transferred $20,000 from its U.S. unit to its Mexico unit using USDT, reducing settlement time to about seven minutes compared with the usual three to four hours via traditional banking.

The company plans to expand to more payment corridors and currencies, including a Europe pilot designed to test local currency transfers and foreign-exchange costs with Circle and Visa.

According to CoinDesk, Ava Labs said the project is not a sandbox, with a live pilot moving USD and USDT between Hyundai Motor's U.S. and Mexico entities, as larger firms increasingly explore stablecoins to reduce the cost and time of cross-border payments.

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