As a London-based crypto analyst, I’ve watched the U-card experiment unravel across Asia and beyond. Infini’s co-founder Christine just pulled the plug — not out of failure, but cold, hard logic. In this deep dive, I break down why compliant crypto payments are still a mirage, why margins vanish in real-world use cases, and why the future lies in decentralized stablecoin rails — not Visa-backed plastic. This isn’t closure; it’s strategy.