TechFlow reports that on July 13, Tether announced Hyundai Motor America and Hyundai Motor Mexico have completed an enterprise-level cross-border settlement proof of concept (POC) via Axiym on the Avalanche network, becoming Tether's first pilot case for enterprise cross-border fund settlement.
In this pilot, Hyundai Motor America converted $20,000 into USDT, transferred it cross-border to Hyundai Motor Mexico, and then converted it back to USD. The entire cross-border transfer and verification process took an average of only 7 minutes, significantly faster than the 3 to 4 hours or more typically required for traditional bank cross-border remittances.
Tether stated that this pilot demonstrates the application potential of stablecoins in enterprise cross-border payments, fund management, and global fund allocation. In the next phase, the project will explore more cross-border payment channels and local currency settlement scenarios to further evaluate the application of stablecoins in enterprise treasury management.
