Hyundai Card Completes $20,000 Stablecoin Remittance in 7 Minutes, European Trial Coming Later This Month

According to Korea Herald, Hyundai Card successfully completed a stablecoin-based cross-border remittance of $20,000 between its parent company Hyundai Motor Group's North American and Mexican subsidiaries, with the transaction and verification taking just 7 minutes—compared to the 3 to 4 hours typical for conventional international bank transfers. The proof-of-concept test, backed by Tether, Avalanche, and digital payments provider Axiym, marks the first time a South Korean credit card company has executed a real-world corporate remittance using stablecoins.

A second pilot phase involving European subsidiaries is scheduled to launch later this month, expanding the network to include stablecoin issuer Circle and payments giant Visa, with tests moving beyond dollar-to-dollar transactions into local fiat currencies to measure potential savings on foreign exchange and conversion costs.