Hyundai Card has wrapped up its first real-world stablecoin proof-of-concept, using Avalanche and Tether. The South Korean credit card company says the pilot validated stablecoin use cases in everyday payment flows.
Details on the specific transactions and volumes aren’t public yet, but the pilot involved real customers making real payments. Think of it as a stress test for stablecoins in a traditional financial setting.
Visa and Circle are joining the second proof-of-concept, set to start later this month. Circle’s USDC is the obvious addition, given Visa’s existing payment infrastructure partnerships. Having two of the biggest stablecoin issuers plus a major card network involved signals this is more than an experiment.
Hyundai Card’s move is worth watching. South Korea has strict crypto regulations, but major financial institutions are quietly building onchain infrastructure. If this second pilot goes well, don’t be surprised to see a live product launch before 2027.
