In December, Dianrong co-founder Guo Yuhang put $10 million of his own money into the company to reassure investors.
Company co-founder pleads with Chinese regulators to give the sector a ‘ray of hope.’
The company said it will continue to scale back its offline services.
As Chinese financial regulators look at Ant Group, they’re thinking about the once high-flying field of P2P lending.
Amid an on-going regulatory crackdown on China’s online lending sector, many platforms are turning to blockchain for help.
The firm said it will shut down its online lending businness by the end of 2021.