TechFlow, December 25 — Caixin Network published an article titled "The Craze for 'U Cards' on Xiaohongshu: The Secret Behind Their Popularity and the Fatal Risks," pointing out that users can use Visa-branded bank cards to pay for services such as ChatGPT Plus subscriptions, with charges deducted in USDT from cryptocurrency wallets. These overseas bank cards, commonly known as "U cards," are foreign-issued cards enabling payments via U.S. dollar-pegged stablecoins. The article also notes that issuing and using U cards within mainland China carries additional legal risks, and it remains unclear whether these cards are merely a fleeting transitional product or hold the key to the future of payment systems.
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