Hyundai pilots USDT treasury transfer between US and Mexico

Hyundai Motor America and Hyundai Motor Mexico completed a pilot cross-border treasury transfer using Tether’s USDT, converting U.S. dollars into USDT, moving the stablecoin on-chain and converting it back to dollars. Tether reported the transfer and verification took about seven minutes on the Avalanche blockchain.

The pilot used Axiym’s settlement infrastructure to link the blockchain settlement to conventional treasury controls and reporting. Hyundai Card designed the remittance structure and managed regulatory, compliance, accounting and operational requirements needed for the test.

The on-chain transfer took roughly seven minutes, compared with three to four hours or more commonly required for traditional bank-based cross-border payments, according to Tether.

Organizers designed the proof of concept to test whether stablecoin-based settlement could be integrated into existing corporate treasury operations without changing governance, compliance or accounting processes. The next phase will expand testing to other payment corridors and include local currency settlements as teams review broader treasury workflows.

The transaction amount was $20,000. The pilot focused on end-to-end processes-conversion, on-chain transfer, verification and reconversion-rather than scale.

Corporate treasury usage of stablecoins has been growing. In April, treasury software provider Kyriba partnered with Circle to let enterprise treasury teams hold USDC alongside cash balances and settle eligible cross-border and intercompany payments in near real time using existing approval workflows. A Bitso Business report found stablecoin transaction volumes on its platform rose 81% year over year in the first half of 2026, with more than 60% of newly onboarded business clients in that period coming from financial institutions.

A June survey from Paybis found 22.5% of businesses already use stablecoins for international payments or plan to within 12 months. McKinsey research cited in market reports estimated business-to-business transactions accounted for about 60% of an estimated $390 billion in global stablecoin payment volume in 2025. Data compiled by DefiLlama showed total stablecoin market capitalization at roughly $312.3 billion, up about 21.5% from a year earlier, with Tether’s USDT remaining the largest stablecoin by market value.