Caixin: Overseas U-card advertisements attract users to pay for ChatGPT and other services with USDT, but applying for and using them domestically faces legal risks.

While overseas advertisements for U-cards attract users to pay for ChatGPT and other services with USDT, applications for use within China face legal risks, and the industry is facing a systemic crisis. Since 2023, Binance U-cards have withdrawn from the European market, and other projects such as OneKey and Infini have also successively shut down their consumer-facing (C-end) businesses, indicating that the U-card industry is in a systemic predicament.