Hyundai Expands Blockchain Ambitions with Avalanche Pilot

Hyundai Card is expanding its blockchain strategy after successfully testing stablecoin-based corporate payments on Avalanche. The pilot project involved a real cross-border payment between Hyundai Motor America and Hyundai Motor Mexico, with a transaction value of around $20,000.

The process took an average of seven minutes, significantly faster than the three to four hours it would normally take using traditional banking infrastructure.

Heejung Nam, head of Payments and business development at Hyundai Card, emphasized that the company now needs to prove that the system can handle larger transaction volumes and operational complexity required by Hyundai Motor Group.

The experiment involved genuine intercompany settlement rather than a simulated blockchain transaction, making it a significant step towards routine corporate treasury activity using blockchain infrastructure.