Hexindai (NASDAQ:HX), a China-based peer to peer lender, announced on Tuesday it was officially accepted as a member of the Nandu Finance Digital Union on June 11th. The lending platform reported that the Union, which was launched in April 2018 by the Nanfang Metropolis Daily and the Nandu Finance Institute, aims to establish an industry communications platform for regulators, industry players, and consumers. Hexindai also reported:
“The Union explores the latest trends in new finance, and supports the rapid growth of financial technology in order to drive the digital transformation of China’s financial services industry. The Union provides a platform for members to share their latest industry insights and technological know-how with other fintech business leaders.”
Ant Financial, JD Finance, WeBank and Du Xiaoman Financial, were notably the Union’s first batch of members. In May 2018, the Union started its first open membership application and out of about 100 applicants, Hexindai was one of eight companies approved to join. Speaking about the lender’s new membership, Xinming Zhou, CEO of Hexindai, added:
“We are extremely proud to be accepted into the Union. We would like to leverage this great platform to share our experience and jointly tap the tremendous growth opportunities in new and digital finance in China.”