Hyundai Introduces Stablecoin for Global Treasury Management

Hyundai has introduced stablecoin for global treasury management for the first time. Photo: Yonhap

Hyundai Motor - the world's third-largest automaker by sales - has become the first major company in South Korea to implement a cross-border internal money transfer system using stablecoin on the Avalanche blockchain, marking one of the largest enterprise applications of blockchain to date.

South Korea's largest automaker completes pilot USDT stablecoin transfer on Avalanche

Hyundai Motor, South Korea's largest automaker, became the country's first major company to use blockchain for real-time internal cross-border treasury transfers. The company completed a... pic.twitter.com/4GBAdEF6t1
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No longer a lab experiment, the project has processed real cash flow between Hyundai's member companies. Justin Kim, APAC Director of Ava Labs, confirmed this as a real treasury management use case.

In the initial phase, Hyundai Motor America transferred $20,000 to Hyundai Motor Mexico by converting USD to Tether's USDT, transferring the asset over the Avalanche network, and then converting it back to USD at the receiving end. The entire process took an average of about 7 minutes, while traditional international money transfer methods through banking systems typically take 3-4 hours to complete.

The project is led by Hyundai Card, a financial company under the group. In addition to Avalanche and Tether, the trial also involved Axiym, a blockchain payment infrastructure provider, while Hyundai Card handled the entire process of legal assessment, taxation, internal controls, and payment process design to ensure the system meets the operational requirements of a global corporation.

According to the plan, the project will soon expand to more international payment corridors and support additional local currencies alongside USD. By the end of this month, Hyundai will launch a second trial among its subsidiaries in Europe with the participation of Circle - the issuer of USDC - along with Visa to evaluate the capability of transferring money in multiple currencies and optimizing foreign exchange costs.

Hyundai's move has yet to create a positive effect on the Avalanche ecosystem. After the announcement, AVAX price continued to be affected by the overall market correction trend in crypto. Currently, AVAX is trading around $6.4, down 6% over the past week, corresponding to a market capitalization of approximately $2.8 billion.

AVAX price fluctuations over the last 7 days, screenshot on CoinGecko at 10:00 AM on July 13, 2026

Over the past year, stablecoins have transitioned from being a "playground" of the cryptocurrency market to the corporate finance sector. Visa is one of the leading names in this trend. In April, the American payment company announced that its stablecoin payment program had reached a processing scale equivalent to $7 billion per year, while expanding support to 9 blockchains to meet the growing demand from banks and businesses.

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