Tether completes Hyundai cross-border settlement PoC
14 July 2026 US, Mexico
Image: revers_jr/stock.adobe.com
Tether has completed a cross-border settlement proof of concept (PoC) between Hyundai operating subsidiaries, Hyundai Motor America (HMA) and Hyundai Motor de México (HMM).
The transaction took place through Axiym, a liquidity-as-a-service (LaaS) provider, on the Avalanche blockchain network.
According to Tether, the PoC demonstrated that an enterprise cross-border transfer and verification process could be completed in an average of seven minutes, compared to TradFi transfers requiring in excess of three hours.
The first phase saw HMA convert US$20,000 into USDT, Tether’s stablecoin, which was then transferred to HMM before being converted back into US dollars, with the full process including international transfer and verification.
The PoC’s next phase is set to explore further cross-border corridors and local currency settlement, with additional evaluation focused on stablecoins’ ability to support broader enterprise payment and treasury workflows.
According to Tether, a company the size of Hyundai evaluating blockchain-based financial infrastructure for its treasury operations is indicative of a broader shift in institutional finance.
Hyundai also led the design of the remittance structure and oversaw regulatory review, compliance considerations, accounting requirements, and the necessary operational framework to evaluate stablecoin-based settlement between overseas subsidiaries.
Commenting on the initiative, Paolo Ardoino, CEO of Tether, says: “Hyundai’s initiative shows the growing demand for financial infrastructure that can help enterprises to move value across borders with greater speed, efficiency, and transparency.”
The transaction took place through Axiym, a liquidity-as-a-service (LaaS) provider, on the Avalanche blockchain network.
According to Tether, the PoC demonstrated that an enterprise cross-border transfer and verification process could be completed in an average of seven minutes, compared to TradFi transfers requiring in excess of three hours.
The first phase saw HMA convert US$20,000 into USDT, Tether’s stablecoin, which was then transferred to HMM before being converted back into US dollars, with the full process including international transfer and verification.
The PoC’s next phase is set to explore further cross-border corridors and local currency settlement, with additional evaluation focused on stablecoins’ ability to support broader enterprise payment and treasury workflows.
According to Tether, a company the size of Hyundai evaluating blockchain-based financial infrastructure for its treasury operations is indicative of a broader shift in institutional finance.
Hyundai also led the design of the remittance structure and oversaw regulatory review, compliance considerations, accounting requirements, and the necessary operational framework to evaluate stablecoin-based settlement between overseas subsidiaries.
Commenting on the initiative, Paolo Ardoino, CEO of Tether, says: “Hyundai’s initiative shows the growing demand for financial infrastructure that can help enterprises to move value across borders with greater speed, efficiency, and transparency.”
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