Founded in 2001 by Dr. Zane Wang, China Rapid Finance initially focused on providing credit analytics to Chinese banks. It later evolved into one of the country's largest and longest-running online consumer lending marketplaces, connecting individual borrowers with investors. The company had a significant IPO on the New York Stock Exchange (NYSE) in 2017 under the ticker "XRF". However, following a severe regulatory crackdown on the P2P lending industry in China and significant financial difficulties, the company was delisted from the NYSE in 2020. It subsequently filed for Chapter 11 bankruptcy in the U.S. in July 2022 and was acquired by SOS Limited (NYSE: SOS), which has shifted the business focus entirely away from P2P lending to blockchain technology and cryptocurrency mining.