Hyundai Card has moved its Avalanche-based stablecoin pilot into a new phase, after completing a live $20,000 intercompany transfer between its U.S. and Mexico entities. Avalanche says the automaker's card unit now must prove the payment model works at larger transaction volumes before any commercial rollout.
Hyundai Card has completed a live $20,000 corporate transfer over the Avalanche network, and it now needs to show the same setup can handle bigger volumes. Avalanche said on Sept. 16 that Hyundai Card's next task is proving the payment infrastructure can operate at scale, quoting Heejung Nam, head of payments and business development at Hyundai Card. According to Avalanche: "We have to prove the entire operation model works at scale."
Avalanche carried the $20,000 USDT payment
During the pilot, Hyundai Motor America converted $20,000 into Tether's USDT before sending the tokens across Avalanche to Hyundai Motor Mexico, which converted the funds back into dollars. Hyundai Card said the full process, including remittance and verification, took an average of around seven minutes, compared with three to four hours or more for its existing interbank transfer process. That timing comparison is Hyundai Card's own measurement from the pilot, not a universal benchmark.
Tether supplied the stablecoin and Avalanche provided the blockchain, while Axiym, a blockchain payments infrastructure company, took part in the payment setup. Hyundai Card led compliance and settlement design, and the company said it handled regulatory review, accounting, tax checks and internal controls before the funds moved.
No commercial rollout date yet
Avalanche's Sept. 16 statement does not establish a launch date or confirm that Hyundai Motor Group has approved routine production use. Hyundai Card's July announcement had said it planned to test whether stablecoins could support settlements and fund transfers across the group's overseas entities, and it also outlined a second proof of concept for Europe involving Circle and Visa and non-dollar currencies. Materials reviewed as of Sept. 17 do not contain a public announcement confirming that European test was completed.
Nam framed the next stage around economics as well as technical capacity, saying scaling the system up is what would make the economic model work. Hyundai Card has not disclosed a target transaction volume or performance threshold it needs to reach before considering routine treasury deployment.
Source: crypto.news
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