Hyundai Card tests scaling of Avalanche stablecoin payments

Hyundai Card has moved its Avalanche‑based stablecoin payment experiment into a scale‑testing phase after completing a live $20,000 intercompany transfer between Hyundai Motor entities in the United States and Mexico.

First pilot results

The pilot settled the $20,000 transfer in roughly seven minutes. Hyundai Motor America converted the dollars into USDT, sent the tokens over the Avalanche blockchain, and Hyundai Motor Mexico converted the USDT back into dollars. Hyundai Card reported that the entire process, including remittance and verification, took about seven minutes, compared with three to four hours for its traditional interbank method.

Participants and infrastructure

The test involved Tether’s USDT stablecoin, the Avalanche blockchain, and payments infrastructure provider Axiym. Hyundai Card led compliance, accounting, tax checks and settlement design, while Avalanche, Tether and Axiym supplied the technical components.

Next steps: scaling the model

According to Heejung Nam, head of payments and business development at Hyundai Card, the company now needs to prove that the entire operating model works at a larger scale. The focus will be on handling higher transaction volumes, treasury complexity and repeatability across corporate entities.

Future testing plans

Hyundai Card previously announced a second proof‑of‑concept for European subsidiaries, involving currencies other than the U.S. dollar and partners Circle and Visa. No public update on the completion of that phase has been released.

Commercial rollout outlook

Neither Hyundai Card nor Hyundai Motor Group has set a timetable for a group‑wide deployment. The company remains in a testing stage, assessing both technical capacity and economic viability before any routine treasury use is confirmed.