ZachXBT questioned UPay’s suspicion of providing Xinbi with white label encryption cards

Wu said he learned that on-chain detective ZachXBT issued an article questioning Owen Yang, CEO of the crypto payment and card issuance platform UPay, saying that UPay was suspected of allowing Xinbi to launch Visa crypto cards in a white label format and asked him to explain the relationship between the two parties. There has been no public response from UPay or Owen Yang. OFAC, the U.S. Department of the Treasury, sanctioned Xinbi Guarantee on September 9, saying that the platform it operates is used for criminal activities such as online fraud, fraud, money laundering, etc. UPay official information shows that the company provides encrypted payment cards and white label/API card issuance services.