Hyundai, the world’s third-largest carmaker by vehicle sales, moved a stablecoin-based, cross-border, internal remittance system into production readiness on the Avalanche blockchain, becoming the first major South Korean company to do so.”Hyundai is the first major enterprise to publicly announce this type of implementation on Avalanche, but the initiative represents more than a technical experiment,” said Justin Kim, head of APAC at Ava Labs, which develops and supports the blockchain platform. “This is already a real treasury management use case, not a sandbox — the pilot moved live USD and USDT between Hyundai Motor’s U.S. and Mexico entities,”The international transfer…

In brief Rossen Iossifov, a Bulgarian national serving 111 months for laundering nearly $5 million, has been charged with conspiring to move $290,000 in cryptocurrency that a court had ordered forfeited. Prosecutors say he ran the transfers through multiple exchanges and mixing services in January 2024, while already in federal prison. Should he be found guilty of the new charges, Iossifov faces up to 25 years in prison. A Bulgarian man already serving time for one of the larger crypto laundering cases prosecuted in the U.S. has been charged with pulling off another scheme from inside federal prison, allegedly moving…

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