Hyundai Motor Company Completes Pilot for USDT-Based Financial Fund Transfers Between U.S. and Mexican Subsidiaries

Hyundai Motor Company has completed a pilot project using Tether's USDT for cross-border financial fund transfers between its U.S. and Mexican subsidiaries. According to a recent report by Coindesk, Hyundai's U.S. subsidiary converted funds to US,DT and sent them to the Mexican subsidiary, which then converted them back to USD. This process, which took approximately seven minutes for a $20,000 payment on the Avalanche blockchain, significantly reduced transfer times compared to traditional bank transactions, which can take three to four hours. The pilot focused on assessing whether stablecoin-based settlement systems can be integrated into existing corporate financial operations without altering governance, compliance, or accounting procedures. Hyundai Card designed the payment structure and oversaw the regulatory, compliance, accounting, and operational requirements for the pilot. The next phase will involve expanding the test to additional payment segments and local currency settlements to evaluate broader implementation of corporate financial operations.