BlockBeats News, July 13, Tether announced that Hyundai Motor America and Hyundai Motor Mexico have completed an enterprise-level cross-border settlement proof-of-concept (POC) on the Avalanche network through Axiym, becoming Tether's first corporate cross-border fund settlement pilot case.

In this pilot, Hyundai Motor America exchanged $20,000 for USDT, made a cross-border transfer to Hyundai Motor Mexico, and then exchanged it back to dollars. The entire cross-border transfer and verification process took an average of only 7 minutes, significantly faster than traditional bank cross-border remittances, which usually take 3 to 4 hours or more.

Tether stated that this pilot demonstrates the stablecoin's potential application in corporate cross-border payments, fund management, and global fund transfers. In the next phase, the project will explore more cross-border payment channels and domestic currency settlement scenarios to further assess the stablecoin's application in corporate treasury management.