Hundai Card headquarters in Yeouido, Seoul. (Hyundai Card) 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 US dollars. The entire process, from cross-border transfer to verification, took seven minutes, showing a significant improvement in speed and security from conventional bank transfers, which typically take three to four hours, Hyundai Card said.Stablecoin issuer Tether, blockchain platform Avalanche and blockchain-based payments infrastructure firm Axiym took part in the test.Hyundai Card emphasized that the test marks the first stablecoin-based cross-border transfer PoC by a Korean card company, using stablecoins for an actual intercompany remittance. The company led the design of the transfer structure and overall process after working with Hyundai Motor to review accounting, tax, legal and internal control requirements at the overseas units, while also building infrastructure in advance to address potential issues throughout the transfer process.The card issuer said a second PoC will begin later this month among Hyundai Motor subsidiaries in Europe, with more global partners including Circle and Visa set to join. The next test will broaden the scope beyond dollar-based transfers to actual remittances in local currencies, allowing the firm to assess the economic benefits of blockchain-based stablecoin transfers, including potential savings in currency conversion."This PoC is significant because it shows that we have moved beyond a simple technical test and completed preparations for potential real-world adoption," a Hyundai Card official said. "We will continue to explore and expand various businesses using stablecoins, including international remittance and payment infrastructure."