Caixin: Issuance and use of U-cards in China carries unique legal risks.

Odaily Planet Daily reported on December 25th that Caixin published an article titled "The Secret and Fatal Risks of the Frenzied Popularity of U-Cards on Xiaohongshu." The article points out that users can use bank cards bearing the Visa logo to make payments such as ChatGPT Plus subscription fees, with the deductions completed through USDT in their cryptocurrency wallets. These overseas bank cards, commonly known as "U-cards," are a type of overseas bank card that uses USD stablecoins for payments. The Caixin article points out that issuing and using U-cards within China carries a unique layer of legal risks.