Tether is deepening its footprint in corporate treasury and Latin American fintech, unveiling a successful cross-border payment pilot with Hyundai and a new investment in Argentine digital bank Ualá. The stablecoin issuer confirmed that Hyundai Motor America and Hyundai Motor de México completed a USDT settlement on the Avalanche blockchain through infrastructure provided by Axiym. The transaction, which moved $20,000 between subsidiaries, was settled in roughly seven minutes, a fraction of the three to four hours typical for traditional interbank transfers. Hyundai Card oversaw the compliance, accounting and operational frameworks, while Axiym's regulated platform handled the near-instant movement of funds.
Tether CEO Paolo Ardoino said the initiative reflects growing enterprise demand for on-chain value transfers. “Stablecoins are becoming part of the next generation of global financial infrastructure,” he added. The pilot not only tested speed but also evaluated how USDT fits within existing governance and compliance structures. Tether now plans to expand testing across new payment corridors and local currency settlement workflows, signaling a broader push into institutional treasury management.
In a parallel move, Tether invested $20 million in Argentine fintech Ualá as part of the firm’s $197 million equity round led by Allianz X. The funding underscores Tether’s strategic focus on Latin America, where it has already backed Brazilian exchange Mercado Bitcoin with another $20 million and led a $14 million Series A for crypto platform Belo. The investment comes as Bolivian officials reportedly consider integrating USDT into the national payment system amid a foreign-currency shortage, with banks like Banco Unión and Banco FIE already offering USDT-linked services. Tether is also expanding into payroll solutions, having led a $7 million round for Pact Labs to bring stablecoin settlement to the $11-trillion U.S. payroll market.
The dual announcements highlight USDT’s widening role from crypto trading to real-world enterprise and consumer payments. With a market capitalization near $184.4 billion, USDT remains the dominant stablecoin, and Tether’s recent activity cements its pivot toward becoming a mainstream financial rail.
