Hyundai, the world’s third‑largest automaker, became the first major South Korean company to use the Avalanche blockchain for live cross‑border treasury transfers, moving $20,000 from its U.S. subsidiary to its Mexico subsidiary via the USDT stablecoin, a process that took about seven minutes compared with three to four hours using traditional banking.

The implementation represents a shift of stablecoin technology from speculative trading to corporate treasury management. Large enterprises are increasingly testing stablecoins to reduce cost and time associated with international payments, as noted by Lindsey Einhaus, strategy head at Bridge, speaking at Consensus Miami in May.

Hyundai Card reported that the transfer took an average of seven minutes, down from the three to four hours typical of conventional banking channels. The firm plans to expand the system to additional cross‑border corridors and currencies, and a second pilot involving European subsidiaries is scheduled to begin later this month, in partnership with Circle and Visa, to evaluate local currency transfers and foreign‑exchange conversion costs.

The European pilot will assess the scalability of stablecoin‑based transfers for enterprise use cases, with findings expected later this year.