Hyundai Becomes First Major South Korean Company to Introduce Internal Stablecoin Transfers

Hyundai has moved a stablecoin-based, cross-border internal remittance system into production readiness on the Avalanche blockchain, becoming the first major South Korean company to introduce internal stablecoin transfers. According to CoinDesk, a pilot moved live USD and USDT between Hyundai Motor’s U.S. and Mexico entities, including a first-phase $20,000 transfer from Hyundai Motor America to Hyundai Motor Mexico that averaged seven minutes versus three to four hours via traditional banking networks. A second pilot with European subsidiaries is set for later this month with Circle Internet (CRCL) and Visa.