Hyundai Card tests stablecoin transfer for Hyundai Motor units

Hyundai Card, the card and payments unit of Hyundai Motor Group, said Thursday it has verified stablecoin-based cross-border transfers between Hyundai Motor subsidiaries in the US and Mexico.

The company said it completed a proof of concept for intercompany transfers using stablecoins between Hyundai Motor America and Hyundai Motor Mexico.

The test involved Hyundai Motor America converting $20,000 into stablecoins and sending the funds to Hyundai Motor Mexico, where they were converted back into ...