Caixin: Additional Layer of Special Legal Risks in Domestic Issuance and Use of U-Cards

BlockBeats News, December 25th. Caixin published an article titled "The Secret and Lethal Risk of the U Card Trend on Little Red Book," which pointed out that users can use a bank card with a Visa logo for payments such as ChatGPT Plus subscription fees, with the payment being made through USDT in a cryptocurrency wallet. These overseas bank cards, commonly known as "U Cards," are a type of foreign bank card used for payments based on the US dollar stablecoin. The Caixin article also indicated that issuing and using U Cards in China carries an additional layer of special legal risk. Whether it is a short-lived transitional product or holds the key to the future payment landscape remains unknown.