Is 360 IOUs a formal and legal platform?

It is a formal financial licensee. Its operating entity, Fuzhou 360 Microfinance Co., Ltd., has obtained the online microfinance financial license, and 360 entities obtained the online microfinance license on 20 17, which is qualified for formal online lending. 360 can borrow up to 300,000 yuan, and can be repaid in 24 installments at the longest. The interest rate is much lower than the highest loan interest rate stipulated by the state. The platform only needs to provide my ID card and face verification to get the credit line.