Hyundai says a stablecoin transfer between its units took seven minutes, compared with hours for a conventional bank transfer.
Hyundai Card, the card and payments unit of Hyundai, completed a proof-of-concept test for stablecoin-based transfers between Hyundai Motor America and Hyundai Motor Mexico, South Korean newspaper The Korea Herald reports.
According to the report, Hyundai Motor America converted $20,000 into stablecoins and sent it to Hyundai Motor Mexico, where it was converted back into dollars, with the full transfer and verification process taking seven minutes instead of several hours through traditional banks.
Read also: Dune: USDT Dominates Payments, USDC Leads DeFi — Stablecoins No Longer Compete
Tether, the issuer of the world’s largest stablecoin, Avalanche, a blockchain platform, and Axiym, a blockchain payments infrastructure firm, took part in the test.
A Hyundai Card spokesperson said the company “will continue to explore and expand various businesses using stablecoins, including international remittance and payment infrastructure.”
Europe Comes Next
Hyundai Card said a second test will begin later this month among Hyundai Motor subsidiaries in Europe. That test is expected to include more global partners, including Circle, the issuer of USDC▲$0.9999, and Visa, the payments giant.
The next phase will expand beyond dollar transfers into local-currency remittances, allowing Hyundai Card to test whether stablecoin rails can cut currency-conversion costs.
Other automotive giants have tested blockchain-style finance rails, though stablecoins have rarely been the main tool.
For instance, BMW Group used JPMorgan’s Kinexys Digital Payments network in 2025 for an on-chain transaction between treasury teams in Germany and the U.S., but that was a bank-run blockchain payment system rather than a public stablecoin transfer.
Toyota Blockchain Lab, a cross-group organization established by the Toyota Group in April 2019, has worked on Avalanche-based mobility finance prototypes, including a design with separate networks for stablecoins.
Read more: India Stablecoins Push Faces Central Bank Warning to Banks
