13 July 2026 – Tether, the largest company in the digital asset industry and the issuer of USD₮, announces the successful completion of the first enterprise cross-border settlement Proof of Concept (POC) between Hyundai Motor America and Hyundai Motor de México through Axiym on the Avalanche blockchain network.
The initiative demonstrated that an enterprise cross-border transfer and verification process could be completed in an average of seven minutes, compared with traditional interbank transfers that typically require three to four hours or more.
As part of the first phase of the POC, Hyundai Motor America (HMA) converted USD 20,000 into USD₮, transferred the stablecoin to Hyundai Motor Mexico (HMM), and converted it back into U.S. dollars. The full process included international transfer and verification, highlighting how stablecoins can support cross-border settlement for global businesses.
While the pilot demonstrated the speed and efficiency of stablecoin-based settlement, it also reflects a broader shift in enterprise finance. The significance extends beyond the transaction itself: one of the world’s largest industrial companies is actively evaluating blockchain-based financial infrastructure for corporate treasury operations. As stablecoins move beyond crypto-native use cases, participation from global enterprises highlights growing interest in using digital dollars to support faster cross-border payments, treasury management, and capital movement.
This achievement builds on Tether’s existing strategic investment in Axiym and reaffirms Tether’s commitment to expanding enterprise and institutional use cases for USD₮ by supporting infrastructure purpose-built to enable compliant, scalable, and efficient global payment settlements. During the POC, Axiym’s regulated settlement infrastructure enabled the near-real-time movement of USD₮, demonstrating faster, more efficient cross-border settlement at enterprise scale.
The PoC went beyond the transaction itself, with Hyundai Card leading the design of the remittance structure and overseeing regulatory review, compliance considerations, accounting requirements, and the operational framework needed to evaluate stablecoin-based settlement between overseas subsidiaries.
As businesses expand across multiple jurisdictions, the ability to move capital quickly, transparently, and efficiently has become a strategic necessity. Stablecoins provide enterprises with a new way to streamline settlement, improve treasury management, and create more efficient global payment flows without compromising existing operational, governance, or compliance standards.
“Stablecoins are becoming a critical part of the next generation of global financial infrastructure,” said Paolo Ardoino, CEO of Tether. “Hyundai’s initiative shows the growing demand for financial infrastructure that can help enterprises to move value across borders with greater speed, efficiency, and transparency. USD₮ is helping bridge traditional finance and blockchain-based infrastructure, offering companies new tools to streamline settlement and unlock new ways to manage global operations effectively.”
The next phase of the initiative will explore additional cross-border corridors and local currency settlement, further evaluating how stablecoins can support broader enterprise payment and treasury workflows.
As global financial infrastructure continues to evolve, the conversation is no longer about whether stablecoins have meaningful real-world applications; it is about how quickly they will become embedded in the systems that power international commerce. Tether remains committed to supporting the technologies, infrastructure, and innovators accelerating that transformation.