Several Chinese lending platforms reported weaker revenue and loan volumes after loan-assistance regulations took effect, while WeCredit expanded into digital assets through investments in Hong Kong-based firms.
Chinese consumer lending platforms experienced declines in revenue and loan volumes as new rules governing loan-assistance business came into force. In response, some companies turned to overseas expansion in Southeast Asia and Latin America to seek growth beyond the domestic market. Separately, WeCredit deployed HK$2.395 billion into EXIO Group, a licensed virtual asset platform, and bought a 15% stake in Thousand Whales Technology, signaling a strategic move toward the digital asset sector.