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, on April 6 (UTC+8), with the combined effects of the official implementation of new regulations for loan facilitation and a slowdown in demand for consumer credit, multiple consumer-loan facilitation and assisting platforms saw year-on-year declines in revenue and disbursement scale. Their net profits fell sharply. Some facilitation platforms are looking for a second growth curve by “going overseas” and investing in “cryptocurrency circles.” The new facilitation regulations set out management requirements for facilitation institutions, such as a “whitelist system,” and in practice have clearly drawn 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 from Lexin, Qifu Technology, Jianyins Technology, Yiren Zhike, and Xinfei Technology. Platforms such as Lexin and Yiren Zhike have already laid out overseas businesses, with Southeast Asia and Latin America becoming the main battlefields. Weixin Jinke has continued to expand into the blockchain industry over the past two years; in 2024, it indirectly acquired 15% equity in the cryptocurrency exchange Thousand Whales Technology (BVI) Company. Last year, it funded HKD 23.95 billion to invest in EXIO Group, the first batch of licensed virtual-asset trading platforms under the Hong Kong Securities and Futures Commission. (Source: PANews)