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 multiple factors overlapping—such as the official implementation of new regulations on lending assistance and a slowdown in demand for consumer credit—many consumer loan and lending-assistance platforms saw year-over-year declines in both revenue and disbursement scale. Their net profits fell sharply. Some lending-assistance platforms are looking for second growth curves by “going overseas” and investing in the “cryptocurrency circle.” The new lending-assistance regulations put forward management requirements such as a “whitelist system” for lending-assistance institutions, and in fact they have drawn a clear compliance red line for the online lending-assistance 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, Jiayin Technology, Yiren Zhike, and Xinfei Technology. Platforms such as Lexin and Yiren Zhike have already laid out overseas business. Southeast Asia and Latin America have become the main battlefields. Weixin Jinke has continued to expand into the blockchain industry over the past two years, and in 2024 it indirectly acquired 15% of the shares of the cryptocurrency exchange Thousand Whales Technology (BVI). Last year, it contributed 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)