Hyundai Card Pushes for Scale in Stablecoin Treasury Pilot

The initial pilot, which utilized Tether’s USDT on the Avalanche network, completed a cross-border settlement in roughly seven minutes. Hyundai Card contrasted this with traditional interbank transfers, which typically require three to four hours. While the experiment successfully moved genuine corporate funds, the company acknowledges that the current proof of concept remains limited in scope and complexity.

Heejung Nam, head of payments and business development at Hyundai Card, emphasized that the next phase centers on economic viability and operational capacity. The firm must now demonstrate that the system can maintain its performance as transaction frequency and volume increase. This effort involves integrating complex regulatory reviews, tax compliance, and internal accounting controls that were managed manually during the initial test.

While Hyundai Card previously signaled intentions to expand testing to European entities—potentially involving Circle and Visa to explore multi-currency foreign exchange costs—the company has not confirmed the completion or results of those trials. As of now, the focus remains on validating whether the stablecoin model offers a reliable, cost-effective alternative to existing treasury processes for the wider Hyundai Motor Group.