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 impact of several factors—including 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-on-year declines in revenue and loan-disbursement scale, with net profits falling sharply. Some lending-assistance platforms are seeking “second growth curves” such as “going global” and investing in the “crypto circle.” The new lending-assistance regulations set management requirements for lending-assistance institutions, such as a “whitelist system,” and in practice have drawn clear compliance red lines 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 interviews with relevant executives from Lexin, Qifu Technology, Jiayin Technology, Yirenzhike, and Xinfei Technology. Platforms such as Lexin and Jiayin Technology have already laid out overseas business, with Southeast Asia and Latin America becoming the main battlegrounds. Weixin Jinke has continued to develop the blockchain industry over the past two years; in 2024, it indirectly acquired a 15% equity stake in the crypto exchange Thousand Whales Technology (BVI) Company, and last year it invested HKD 2.395 billion to support EXIO Group, the first batch of licensed virtual asset trading platforms under the Hong Kong Securities and Futures Commission. (Source: PANews)