China Rapid Finance Limited (NYSE: XRF) (“XRF” or “the Company”), one of China’s leading fintech companies, today reported that its Micro Credit Company just received the approval from the local regulatory annual compliance review.
Several members of the management team plan to buy the Company’s stock during the open trading window, in accordance with applicable rules and regulations.
Dr. Zane Wang, Founder, Chairman and Chief Executive Officer of the Company, noted: “When the regulators are closing marketplace lending platform businesses as a whole, a licensed micro credit company presents an attractive alternative for the business. While some micro credit companies are required to undergo rectification, and some are forced to close, we are very pleased to receive a clean approval from the regulator’s annual compliance review in our transition into our new business direction. The management team believes in the Company’s prospects, and some plan to buy the Company’s stock in the open market.”
