Revealed! Mastercard U card: Why can you easily withdraw cash by charging U?
Did you know? The card issuers behind Mastercard are mainly digital banks and Mastercard. And digital banks are the key to turning your U (virtual currency) directly into cash!
In Europe, digital banks recognize assets such as USDT. What's more amazing is that in the eyes of banks, USDT and US dollars are exactly the same. For example, if you deposit 100 USDT, the digital bank will treat it as if you deposited 100 euros.
So what if you want to use this 100 USDT to withdraw cash from an ATM? The digital bank will first convert 100 USDT into euros according to the exchange rate at the time, and then tell the Bank of China. The Bank of China will then give you the corresponding RMB based on the real-time exchange rate of the US dollar to the RMB.
Now everyone should have a bottom line in their hearts. It is compliant to deposit U, because digital banks accept it and European regulators also recognize it. It is also legal to withdraw cash, because the entire process follows the normal procedures between banks. So, everyone can use Mastercard with confidence!
If you have any questions about MasterCard, you can leave a message in the comment section, or you can read my top guide!
