According to Digital Asset, Hyundai Card and Hyundai Motor have completed a stablecoin-based proof-of-concept (PoC) for remittances between overseas subsidiaries and have completed preparations for actual business application. In the first phase PoC, Hyundai Motor America (HMA) exchanged $20k into USDT and remitted it to Hyundai Motor Mexico (HMM), which then converted it back to USD. The entire process took an average of 7 minutes, with Tether and Avalanche participating. Hyundai Card stated that by the end of this month, it will conduct the second phase PoC for Hyundai Motor's European subsidiary, conducting actual remittances in local currency and verifying cost savings from exchange rate conversion, with Circle and Visa participating.

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