Viral U cards drive stealth stablecoin adoption in China Stablecoins are finding an indirect path into China via payment cards going viral on social media. Locally referred to as “U cards,” overseas Visa or Mastercards linked to stablecoin balances such as USDT, have surged in popularity on Chinese social platform Xiaohongshu, AKA Little Red Book. Posts explain how to obtain the cards with ease and use them for everyday overseas payments, such as subscriptions to services. Such cards allow users to spend dollar-denominated stablecoins while merchants receive fiat currency, meaning…
Chinese users turn to ‘U cards’ to get around crypto rules: Asia Express
