Custodian Bank Services in China Evolving Slowly after Regulatory Requirement

The China Banking Regulatory Authority has mandated that all P2P lenders work with a custodian; a month after the requirement was announced, the majority of industry platforms have still not partnered with a custodian; most Chinese custodian banks do not offer P2P custodian services so the partnerships require added deliberation and communication; a number of new regulations are affecting the industry and it appears Chinese custodian banks will have a significant impact on the future of the industry given the online lenders they choose to partner with for P2P custodian services.  Source

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