Hyundai becomes first major South Korean company to introduce internal stablecoin transfers

Story summary

The initiative builds on a broader shift by companies exploring stablecoins to move money between international operations more efficiently. Hyundai became the first major South Korean company to use the Avalanche for live cross-border treasury transfers. In its first phase, Hyundai transferred $20,000 from its U.S. unit to its Mexico unit using USDT, cutting transfer times to about seven minutes from the usual three to four hours via traditional banking. The carmaker plans to expand the project to more payment corridors and currencies, including a pilot in Europe that will test local currency transfers and foreign-exchange costs with Circle and Visa. 1 Binance.US CEO says exchange is rebuil…

The initiative builds on a broader shift by companies exploring stablecoins to move money between international operations more efficiently.

Hyundai became the first major South Korean company to use the Avalanche for live cross-border treasury transfers.
In its first phase, Hyundai transferred $20,000 from its U.S. unit to its Mexico unit using USDT, cutting transfer times to about seven minutes from the usual three to four hours via traditional banking.
The carmaker plans to expand the project to more payment corridors and currencies, including a pilot in Europe that will test local currency transfers and foreign-exchange costs with Circle and Visa.

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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

Why it matters :

CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.

Mizuho says Circle bank approval doesn't solve USDC growth, stablecoin competition risks

Bolivia weighs adding Tether's USDT to its national payments system

SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance

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