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Hyundai Card Completes $20,000 Stablecoin Remittance Test in 7 Minutes on July 9

GateNews
Partnerships & Ecosystem
AVAX4.17%
According to Hyundai Card, the Seoul-based credit card issuer completed a stablecoin remittance proof of concept between Hyundai Motor entities in the US and Mexico on July 9. In the test, $20,000 was converted to USDT, transferred across borders, and converted back to US dollars, with the entire process taking seven minutes on average—compared with three to four hours for traditional interbank transfers. Hyundai Card plans to launch a second pilot involving European Hyundai Motor entities later in July, with additional participants including Circle, Visa, Tether, Avalanche, and Axiym joining after the initial phase.
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