PANews reported on December 25th that, according to Caixin, an overseas bank card called "U-card," which uses the USD stablecoin USDT for payments, is being advertised on platforms like Xiaohongshu to attract users to apply. Users can use the U-card to complete payments including ChatGPT Plus subscription fees, converting on-chain crypto assets into off-chain purchasing power. However, applying for and using the U-card within China faces specific legal risks.

Caixin points out that since 2023, Binance U-card has withdrawn from the European market, and other projects such as OneKey and Infini have also shut down their C-end businesses, indicating that the U-card industry is in a systemic predicament.