The U Card project launched in Hong Kong has regulatory advantages and rich resources, making it suitable for starting from scratch. The core partners required for the project include stablecoin custody, Exchange Currency, card issuance, payment clearing, and KYC services. Although the SVF application threshold is high, most projects rely on MSO licenses to achieve Compliance operations. Overall, Hong Kong is the best choice, while other regions like Singapore and Dubai can also be considered, but the relative disadvantages are obvious.