The scale and profits of the loan assistance platforms declined after the new regulations, with many expanding into the cryptocurrency space and "going overseas."

ME News message: On April 6 (UTC+8), amid the combined effects of the official implementation of new regulations for loan facilitation and a slowdown in demand for consumer credit, the revenue and disbursement scale of multiple consumer-loan and loan-facilitation platforms have declined year over year. Net profit has fallen sharply. Some loan-facilitation platforms are seeking second growth curves such as “going overseas” and investing in the “crypto-circles.” The new loan-facilitation regulations also impose management requirements on loan-facilitation institutions, such as “a whitelist system,” and in practice have drawn clear compliance red lines for the online loan-facilitation industry.

It is reported that, on the eve of this year’s “3·15” International Consumer Rights Day, the National Financial Regulatory Administration held talks with relevant executives of Lexin, Qifu Technology, Jiayin Technology, Yiren Zhike, and Xinfei Technology. Platforms including Lexin and Yiren Zhike have already laid out overseas businesses, with Southeast Asia and Latin America becoming the main battlegrounds. Weixin Jinke has continued to expand into the blockchain industry over the past two years; in 2024, it indirectly acquired a 15% equity interest in the company Thousand Whales Technology (BVI), the cryptocurrency exchange. Last year, it provided HKD 2.395 billion to invest in EXIO Group, the first batch of licensed virtual asset trading platforms by the Hong Kong Securities and Futures Commission. (Source: PANews)