Hyundai moves US-to-Mexico funds in under 7 minutes on Avalanche
Hyundai is expanding its onchain payments work with Avalanche, with a cross-border transfer demoed at Avalanche Summit NYC moving USD from the US to Mexico in under 7 minutes. Hyundai's Justin Kim broke down the transfer in a session covered by CoinDesk, following Hyundai Card's stablecoin pilot on the network that cut transfer times by over 96%.
- Hyundai is studying how near-instant settlement — even after banking hours — can reduce idle liquidity and make working capital go further.
- At a live event, Heejung Nam, Head of Payments & BD, said the economics only hold once the operating model is proven at scale: "We have to prove the entire operation model works at scale. What happens if we can scale up? Then the economic model works."
Sources
- RT @CoinDesk: “USD to USD from US to Mexico, under 7 minutes.” At @avax Summit, @justinkim415 breaks down how Hyundai moved funds across b…x.com ↗
- Read the full article from @AmerBanker here: https://t.co/j4vT2Np7zB Replying to their earlier post: Hyundai is testing blockchain infrastructure to accelerate development and improve payment processing time. Hyundai Card’s stablecoin pilot on Avalanche saw transfer time reduced by over 96%. Now the…x.com ↗
- Hyundai is testing blockchain infrastructure to accelerate development and improve payment processing time. Hyundai Card’s stablecoin pilot on Avalanche saw transfer time reduced by over 96%. Now the company is exploring how these faster transfers, even after banking hours, can https://t.co/YrDKEbWAQ5x.com ↗
- JUST NOW: Hyundai outlined the next steps after their successful Proof of Concept with Avalanche earlier this year. "We have to prove the entire operation model works at scale. What happens if we can scale up? Then the economic model works." -Heejung Nam, Head of Payments & BD,x.com ↗
