Hyundai Card Tests Stablecoin Payments Between US and Mexico Subsidiaries

Hyundai Card has completed a $20,000 stablecoin transfer between Hyundai Motor subsidiaries in the United States and Mexico, the company announced July 9, 2026. The transaction, which took roughly seven minutes to settle, represents one of the first real corporate intercompany payments using stablecoins by a Korean card company.

Real Transaction, Not a Simulation

The proof-of-concept involved converting $20,000 into Tether’s USDT stablecoin, sending the funds over the Avalanche blockchain network, and then converting them back into US dollars upon receipt by Hyundai Motor Mexico. Hyundai Card managed the payment structure while reviewing accounting, tax, legal, and internal control requirements. The company emphasized that this was an actual intercompany settlement rather than a simulated blockchain experiment, designed to address practical challenges in adopting stablecoin payment systems.

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Traditional international bank transfers typically require several hours to complete. Hyundai Card said the test demonstrated how blockchain-based systems could improve settlement speed and operational efficiency for global corporate operations. The company worked with Tether, Avalanche, and payment infrastructure provider Axiym during the pilot.

Expanding to Europe With Visa and Circle

Following the initial US-Mexico test, Hyundai Card plans to launch a second stablecoin payment trial involving Hyundai Motor subsidiaries in Europe later this month. The upcoming pilot will include additional partners such as Visa and Circle, the issuer of the USDC stablecoin. The company will also expand testing beyond dollar-based transactions by exploring transfers involving multiple local currencies.

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Hyundai Card aims to evaluate whether stablecoin-based payments can reduce currency conversion expenses while improving international settlement processes. The company will also examine the broader economic benefits of blockchain-powered financial infrastructure.

Growing Corporate Interest in Stablecoins

The move reflects increasing interest among corporations and payment providers in using stablecoins for faster global transactions. As businesses seek alternatives to traditional banking systems, stablecoins are increasingly being tested for cross-border payments and treasury operations. Hyundai Card said it will continue exploring stablecoin applications across international remittances and payment infrastructure.

The company’s latest trial highlights the growing role of blockchain technology in transforming corporate financial operations worldwide. Hyundai Card described the initiative as the first stablecoin-based cross-border transfer proof-of-concept conducted by a Korean card company involving real corporate remittance activity.

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Zoi Dimitriou

Zoi Dimitriou is a cryptocurrency analyst and senior writer at CryptoNewsInsights, specializing in DeFi protocol analysis, Ethereum ecosystem developments, and cross-chain bridge security. With seven years of experience in blockchain journalism and a background in applied mathematics, Zoi combines technical depth with accessible writing to help readers understand complex decentralized finance concepts. She covers yield farming strategies, liquidity pool dynamics, governance token economics, and smart contract audit findings with a focus on risk assessment and investor education.