Hyundai Card Aims to Scale Corporate Payments on Avalanche

Hyundai Card is preparing to develop a more comprehensive blockchain strategy after completing a corporate payment test based on stablecoins on the Avalanche network. The company is assessing whether the system can operate at larger volumes. Heejung Nam, Head of Payments and Business Development at Hyundai Card, stated that the main goal is to prove the operational model's viability on a large scale. The company is evaluating whether the existing infrastructure can handle a higher number of transactions at the Hyundai Motor Group level. In July, a cross-border payment trial worth $20,000 was conducted between Hyundai Motor America and Hyundai Motor Mexico. In this transaction, Tether's dollar-pegged stablecoin USDT was used, and the asset was transferred over Avalanche. The transaction was completed in an average of seven minutes, while it was noted that traditional banking methods could take three to four hours. Hyundai has not yet made a decision to expand the system group-wide and has not shared a timeline for full commercialization. The next step will be to validate performance and operational compliance at higher transaction volumes.

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