The financial division of Hyundai Motor Group — Hyundai Card — has completed an experimental cross-border transfer using stablecoins. The test showed that traditional banking channels, which take 3 to 4 hours, can be replaced by blockchain solutions that reduce the time to just a few minutes.
As part of the pilot, a sum of $20,000 was converted into stablecoins, sent from the USA to Mexico, and then exchanged back into fiat dollars. The entire process took about seven minutes. Key participants in the experiment included Tether issuer, the Avalanche blockchain platform, and the payment infrastructure company Axiym.
The choice of the USA-Mexico route is no coincidence: it is one of the busiest corridors for money transfers in North America, where traditional systems often face delays and high fees. The use of stablecoins enabled near-instant settlements without intermediaries, which is especially relevant for corporate treasury operations.
Analysis and Prospects
This test is yet another confirmation that large corporations are increasingly integrating digital assets into real business processes. Hyundai Card is not just testing the technology but demonstrating readiness for scaling: if the pilot is deemed successful, we can expect the adoption of stablecoins for regular international settlements across the entire Hyundai Group.
Expert opinion from Cryptalist: A seven-minute transfer versus a four-hour one is not just an improvement but a paradigm shift. However, the key issue is not speed but regulatory clarity. As long as such transactions remain in a "gray zone" for many jurisdictions, mass adoption will be constrained. Nevertheless, Hyundai Card is betting on the future, and that is the right direction.