Hyundai has launched an internal cross-border remittance system on the Avalanche blockchain, marking it as the first major South Korean company to publicly adopt stablecoin for cross-border treasury settlements. In the initial pilot phase, Hyundai's U.S. subsidiary transferred $20,000 to its Mexican counterpart, converting the funds to USDT before exchanging back to USD. This process took approximately 7 minutes, significantly faster than the traditional bank transfer time of 3 to 4 hours. The project, led by Hyundai Card, plans to expand to more cross-border channels and currencies, with a second phase in Europe involving Circle and Visa to test local currency settlements and forex costs.