Hyundai Tests Stablecoins for Global Treasury Infrastructure

Hyundai Motor Group is exploring stablecoins as the backbone of its global treasury infrastructure after conducting two proof-of-concept transactions.

The test, led by Hyundai Card, involved moving $20,000 between subsidiaries in the U.S. and Mexico without a bank using USDT.

The transactions took an average of seven minutes to complete, compared to three to four hours with traditional interbank settlement.

Heejung Nam, VP at Hyundai Card, said they aimed to test if stablecoins can move corporate funds cross-borders in a real business environment.

Nam noted that the benefits of using stablecoins extend beyond faster settlement, including reducing idle liquidity and improving cash visibility.