GIC-linked China lending platform to sell US consumer debt in Asia
Dianrong's new platform FinEX Asia will connect Asia investors to US consumer debt assets
Singapore
ARMED with a fresh US$220 million injection from Singapore's sovereign wealth fund GIC and a group of investors, Chinese peer-to-peer lending platform Dianrong plans to launch a global platform to sell US consumer debt to Asian investors via offices in Singapore and Hong Kong.
The new platform, FinEX Asia, will source consumer loans from the US and connect its investors to these assets, which pay out a fixed monthly return to investors, top executives from the start-up told The Business Times.
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