Over the past year, China has stepped up efforts to clean up its Internet sphere, suspending game license approvals and barring social networking apps
China Construction Bank will be asked to handle the operations of the small lender.
The move is seen to boost non-cash payments in the country.
Such a move would escalate tensions with China and raises questions about whether the U.S. is going after more of the country’s corporate champions.
Rest of Asia
Nepal said payments from the two unregistered systems were illegal and resulting in a loss of income to the Himalayan nation.
This follows the United States adding Huawei to a list of companies with which US firms could not do business.
The move deepens worries about trade frictions between the world's two top economies.
Didi said it would analyse participating in the future once it understood the implications for its drivers.
With the addition of the new ECF and P2P financing players, there are now 21 market-based financing platform operators registered in Malaysia.
A similar US ban on China's ZTE Corp had almost crippled its early last year before the curb was lifted.
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