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Hyundai pilot uses USDT on Avalanche to speed cross-border transfers
The pilot settled a $20,000 payment in about seven minutes, versus three to four hours or more for a traditional cross-border bank transfer.
A Hyundai pilot cross-border treasury transfer used Tether’s USDT stablecoin on the Avalanche blockchain, with Hyundai Motor America converting funds into USDT, transferring them to Hyundai Motor Mexico, and converting back to US dollars. According to Cointelegraph, the payment was settled in about seven minutes, compared with three to four hours or more for a traditional cross-border bank transfer.
Cointelegraph also said the transfer and related verification took roughly seven minutes, while Tether described the pilot as using Axiym’s settlement infrastructure. Hyundai Card handled the remittance structure and oversaw regulatory, compliance, accounting, and operational requirements tied to the proof of concept.
Separately, Cointelegraph reported that Interpol said a Thai-linked crypto wallet tied to a suspected romance-scam money launderer processed more than $122.5 million in 10 months. Interpol said Thai authorities arrested two suspects and uncovered a money-laundering network that funneled romance-scam proceeds into cryptocurrencies using cross-chain token swaps to obscure the trail, as part of Operation First Light 2026.
Cointelegraph added that Operation First Light 2026 involved authorities in 97 countries and territories, leading to 5,811 arrests and the seizure of $293 million in illicit assets tied to fraud and money laundering. The outlet also noted that Tokyo-based SBI VC Trade plans to begin accepting applications on Thursday for a Japanese yen-denominated stablecoin lending service offering an initial annualized rate of 3% on JPYSC lent for 12 weeks.