Tether: Hyundai Motor completes USDT enterprise cross-border settlement test

Foresight News reports, according to the Tether blog, Hyundai Motor America (HMA) and Hyundai Motor Mexico (HMM) completed their first enterprise-level cross-border settlement proof of concept (POC) on the Avalanche network via the Axiym platform. In this test, HMA converted 20,000 US dollars to USDT and transferred it to HMM, which subsequently exchanged it back to US dollars. The complete cross-border transfer and verification process averaged 7 minutes, whereas traditional interbank transfers usually take over 3 to 4 hours. Tether stated that the next phase will explore more cross-border corridors and local currency settlement scenarios.