China’s fast growing peer-to-peer P2P lending industry entered a new stage of development this Wednesday with Dianrong's acquisition of Quark Finance’s asset-origination operations.
Dianrong’s co-founder and CEO Soul Htite told FinanceAsia the MA deal marks the first instance of a “marketplace lender acquiring assets from another lender in either China or the US.”
The deal also underlines the growing power of the industry’s biggest lenders at a time...