Foresight News reports that, according to Caixin, the U Card widely promoted on platforms like Xiaohongshu recently poses compliance and legal risks. This type of tool is an overseas bank card based on USD stablecoins for payments, usually marked with the Visa logo, supporting users to make purchases using USDT from their cryptocurrency wallets, such as subscribing to ChatGPT Plus. The Caixin article points out that issuing and using U Cards domestically involves a layer of special legal risks.
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Caixin: Issuance and use of U cards domestically involve special legal risks, and the nature of the product is questionable
Foresight News reports that, according to Caixin, the U Card widely promoted on platforms like Xiaohongshu recently poses compliance and legal risks. This type of tool is an overseas bank card based on USD stablecoins for payments, usually marked with the Visa logo, supporting users to make purchases using USDT from their cryptocurrency wallets, such as subscribing to ChatGPT Plus. The Caixin article points out that issuing and using U Cards domestically involves a layer of special legal risks.