Hyundai Completes USDT Cross-Border Settlement Test

Hyundai Motor Company USA and Hyundai Motor Company Mexico have successfully completed the first enterprise-level cross-border settlement proof of concept on the Avalanche network through the Axiym platform. During the test, Hyundai Motor Company USA converted $20,000 into USDT and transferred it to Hyundai Motor Company Mexico, which then converted it back to USD. The entire cross-border transfer and verification process took an average of 7 minutes, while traditional interbank transfers typically take over 3 to 4 hours. Tether stated that the next phase will explore more cross-border corridors and local currency settlement scenarios.

Disclaimer: This content is provided for general branding and informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online events, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets or to use any services. Crypto assets are highly volatile and may result in loss. WEEX services and online events may not be available in all regions and are subject to applicable laws, regulations, and eligibility requirements. You are responsible for ensuring that your use of WEEX services complies with local laws and for carefully assessing the risks before participating in any crypto-related activities.