Hyundai Card uses USDT and Avalanche for first intercompany remittance trial
The post Hyundai Card uses USDT and Avalanche for first intercompany remittance trial appeared on BitcoinEthereumNews.com. Hyundai Card has completed its first stablecoin-based cross-border remittance test, settling a $20,000 payment between Hyundai Motor’s U.S. and Mexican entities in about seven minutes using USDT on Avalanche. Summary Hyundai Card completed a $20,000 USDT cross border remittance between Hyundai Motor’s U.S. and Mexico entities in about seven minutes. The transaction ran on Avalanche using Tether’s USDT and was carried out for an actual intercompany settlement instead of a test environment. Hyundai will expand the pilot to Europe later this month with Visa and Circle to test stablecoin transfers across multiple local currencies. According to a Hyundai Card press release, the proof-of-concept (PoC) involved Hyundai Motor America converting $20,000 into Tether’s USDT, transferring the funds over the Avalanche blockchain to Hyundai’s Mexico unit, where the stablecoins w