106 days ago • Posted by William Ramstein

Chinese peer to peer lending is dying away leaving room for the duopoly

China cracked down on ponzi scheme like P2P companies since 2016, severely shortening the P2P marketplace. Frauds and defaults became rampant and has led to suicides and street protests. In just a couple of years, an industry which in its best day had upwards of $150 billion loans and more than 50 million users has given way to larger players. Source: Bloomberg