Seeing someone say that the U Card is challenging existing payment channels. That’s wrong It’s not a challenge, not bypassing anything, but actually integrating into the traditional payment system! This is fintech extending into Web3, not the fiat system being replaced. Using the U Card doesn’t mean virtual assets are being directly used as fiat currency! At its core, it’s still a traditional bank card — issuing bank, settlement network (Visa/Mastercard), merchant system — all fully rely on the existing financial infrastructure. The only difference is that the card’s top-up source is crypto assets, and the platform completes a compliant exchange and settlement process in the background. In other words, you’re spending fiat (USD/EUR, etc.), merchants are receiving fiat, and the settlement runs through Visa/Mastercard’s traditional payment rails. The only crypto-related step is when you top up, and the issuing bank or platform converts the crypto assets into fiat before loading it onto the card. This doesn’t mean blockchain and cryptocurrencies are being “legalized”! It simply shows that regulators allow financial institutions to provide regulated “crypto assets → fiat” exchange services under strict KYC/AML requirements (which is why everyone applying for a U Card needs to complete passport KYC). Virtual assets are still virtual assets; they’re not fiat and don’t have legal tender status. But in many countries and regions worldwide, regulators have allowed virtual assets to be used for payments or consumption under compliance controls. So, it’s not that crypto has become fiat, but rather that the fiat payment system is starting to accommodate crypto assets as a “top-up source”! Bitget, bringing crypto payments into reality. Bitget BitgetWallet Morph