Hyundai Motor (Hyundai) has become the first large enterprise in South Korea to use blockchain to enable real-time cross-border internal financial transfers. Hyundai Motor successfully completed a pilot transfer of $20,000 USDT stablecoins on the Avalanche blockchain, sent from a U.S. company to a Mexico company. Settlement time was dramatically reduced from several hours on traditional banking networks to 7 minutes. The company plans to expand this mechanism to more countries and local currencies, and disclosed that later this month it will work with Circle and Visa to launch a second-phase cross-border settlement test for its European subsidiaries. (CoinDesk)