Hyundai Card, a subsidiary of the South Korean automotive giant Hyundai Motor Group, has conducted a pilot project for cross-border transfers using stablecoins. The experiment demonstrated significant acceleration and optimization of traditional banking operations.
As part of the test, a sum of $20,000 was converted into stablecoins, sent from the USA to Mexico, and then exchanged back into US dollars. The entire process took only about seven minutes, whereas a standard banking procedure typically requires 3 to 4 hours. Key participants in the project included Tether (issuer of USDT), the blockchain platform Avalanche, and the payment infrastructure company Axiym.
A Practical Breakthrough for Corporate Finance
This experiment is not just a technical demonstration. Hyundai Card actually modeled a real business scenario: transferring funds between Hyundai Motor Group divisions located in different countries. The use of stablecoins allowed bypassing slow and expensive correspondent banking networks, providing nearly instant liquidity.
The choice of Avalanche is no coincidence: the network offers high throughput and low fees, which is critical for corporate transactions. Integration with Axiym likely ensured regulatory compliance and conversion to fiat at the final stage.
This case is a strong signal for the market. When giants like Hyundai begin testing stablecoins for internal operations, it indicates the maturity of the technology and its readiness for adoption in the real economy. We are observing not speculative interest, but practical utility—reducing time and costs in corporate settlements.