Consumer Lending Platforms Explore Overseas Expansion Amid Revenue Decline

Several consumer lending platforms are experiencing a decline in revenue and loan issuance, driven by new lending regulations and a slowdown in consumer credit demand. According to Odaily, platforms such as Lexin and Yiren Digital have begun expanding their operations overseas, with Southeast Asia and Latin America emerging as key markets. Meanwhile, Vcredit has been focusing on the blockchain industry, having indirectly acquired a 15% stake in the cryptocurrency exchange Thousand Whales Technology (BVI) in 2024. Last year, Vcredit invested HKD 2.395 billion in EXIO Group, one of the first licensed virtual asset trading platforms by the Hong Kong Securities and Futures Commission.