RedotPay stablecoin payment firm explores New York IPO at valuation above $4B – could raise over $1B
Hong Kong-based stablecoin payments provider RedotPay is laying the groundwork for a potential public debut in the United States, with plans for an initial public offering that could value the fast-growing fintech at more than $4 billion and raise in excess of $1 billion in fresh capital.
According to people familiar with the company’s thinking, RedotPay is collaborating with major Wall Street institutions JPMorgan Chase, Goldman Sachs and Jefferies on a possible listing in New York. The flotation could take place as early as this year, although the timing, size of the offering and final valuation are still being discussed and may shift as preparations advance. Additional banks may also be added to the underwriting syndicate as the deal takes shape.
RedotPay, founded in April 2023, has rapidly positioned itself as a key player in the stablecoin payments arena. The firm issues stablecoin-linked payment cards, offers multicurrency digital wallets and provides international payout and remittance services aimed at both consumers and businesses. The company says it has reached around 6 million users and is processing roughly $10 billion in annualized payment volume, underscoring how quickly its services have scaled in less than three years of operation.
The company has so far declined to publicly comment on the IPO discussions, a common stance for firms at a sensitive stage of assessing capital markets options. Market observers note that exploring a US listing signals an ambition to gain global visibility, tap deep pools of institutional capital and position RedotPay alongside more established fintech and crypto infrastructure players that are already traded on American exchanges.
Rapid fundraising streak in 2025
The move toward a public listing follows an intense year of fundraising that firmly pushed RedotPay into unicorn territory. Over the course of 2025, the company secured a total of $194 million across three separate rounds, attracting a roster of well-known crypto and venture capital investors.
In March 2025, RedotPay completed a $40 million Series A round. That financing was led by Lightspeed, with participation from HSG and Galaxy Ventures, providing the resources to deepen product development and expand its geographic footprint.
Just six months later, in September, RedotPay announced that it had reached fintech unicorn status following a $47 million strategic round. That raise drew in backing from Coinbase Ventures and saw renewed commitments from existing investors including Galaxy Ventures and Vertex Ventures, as well as capital from a high-profile global technology entrepreneur whose identity was not disclosed.
The funding momentum continued into year-end. In December, RedotPay closed a $107 million Series B round. Goodwater Capital led the investment, joined by Pantera Capital, Blockchain Capital and Circle Ventures, with HSG again increasing its exposure. The December round significantly strengthened RedotPay’s balance sheet ahead of its potential transition into the public markets.
Stablecoin specialists remain magnet for capital
RedotPay’s trajectory is part of a broader pattern: stablecoin-centric companies have become one of the most heavily funded segments within crypto and fintech infrastructure. Even as some areas of the digital asset market have cooled, investor interest in payment rails and settlement platforms backed by stablecoins has remained robust.
Throughout 2025, venture investment flowed into firms building tools to issue, manage and use stablecoins in regulated environments. In August alone, nearly $100 million went to the sector. Switzerland-based M0 secured a $40 million Series B led by Polychain Capital and Ribbit Capital, targeting institutional-grade infrastructure. In the United States, startup Rain raised $58 million to develop solutions that enable traditional banks to create and manage compliant stablecoin products.
The capital influx did not slow in the final quarter of the year. In October, Chicago-based Coinflow closed a $25 million Series A round led by Pantera Capital, with the aim of expanding its cross-border settlement services. Later in 2025, CMT Digital rolled out a $136 million fund, allocating significant resources to stablecoin-focused startups, including Coinflow and Codex.
Investors are betting that stablecoins will become a core layer of global finance, bridging traditional banking and digital asset ecosystems. They see opportunities not only in consumer payments and remittances, but also in B2B cross-border settlement, on-chain treasury management and programmable money use cases.
Why an IPO in the US matters for RedotPay
Opting for a US listing rather than an IPO closer to its home base in Hong Kong is strategically significant. New York remains the deepest capital market globally, with a large pool of institutional investors familiar with high-growth fintech and crypto-related stocks. A successful debut could give RedotPay both the brand recognition and financial firepower to compete with global payment giants and native crypto players alike.
A US IPO could also help RedotPay broaden its regulatory footprint. While listing shares in New York does not directly authorize the firm to operate as a payment provider in the US, the process of going public often involves strengthening governance, compliance structures and financial reporting – all factors that can facilitate later licensing efforts in multiple jurisdictions.
For investors, a New York listing may be attractive because it provides liquidity, transparency and the potential for inclusion in indices that track technology and fintech companies. For RedotPay’s early backers, an IPO would be a key liquidity event, while also setting a public benchmark for valuation across the stablecoin payments subsector.
Business model: bridging stablecoins and real-world payments
RedotPay’s core proposition lies in making stablecoins usable in everyday financial life. Its payment cards, linked to stablecoin balances or multicurrency accounts, allow users to spend digital assets as if they were traditional currencies, effectively converting them at the point of sale. The company’s multicurrency wallets enable users to hold, send and receive both fiat and digital currencies, targeting individuals in regions with limited access to stable banking services or high remittance costs.
On the business side, RedotPay’s international payout services are designed to make cross-border transfers faster and cheaper by relying on stablecoins for settlement under the hood, while maintaining familiar user experiences for merchants and partners. This approach is particularly compelling for exporters, gig platforms and global e-commerce businesses that face high fees and long settlement times when using conventional correspondent banking networks.
If RedotPay can continue scaling volumes while keeping risk and compliance under control, it has the potential to become a central node in the growing web of stablecoin-based payment flows.
Competitive landscape and regulatory backdrop
Despite its rapid rise, RedotPay faces growing competition. Global crypto exchanges, neo-banks, card issuers and payment processors are all moving into stablecoin-enabled services. Large stablecoin issuers are also expanding their own payment products and partnerships, which could challenge intermediaries like RedotPay if their offerings overlap.
Regulation is another critical variable. Jurisdictions worldwide are working on new rules for stablecoins, covering reserve transparency, consumer protection, money laundering controls and cross-border usage. As a company founded in 2023, RedotPay has had to build its model in anticipation of tightening standards, rather than enjoying the more permissive environment early crypto firms operated in.
Successfully navigating these rules will be essential not only for securing licenses but also for convincing institutional partners – from banks to payment networks – that RedotPay is a reliable long-term collaborator. An IPO could further increase regulatory scrutiny, but it may also give the firm an opportunity to demonstrate strong governance and risk management practices to both regulators and investors.
What the fundraising history signals to the market
The composition of RedotPay’s cap table is another factor drawing attention. Backing from a mix of traditional venture capital firms and specialized crypto investors suggests confidence that the company can appeal to both mainstream and digital-asset-focused markets. Participation from investors who are also active in other stablecoin and blockchain infrastructure deals may bring strategic benefits, such as access to partnerships, distribution channels and technological know-how.
The timing and size of RedotPay’s rounds indicate that investors see a relatively large addressable market. With stablecoins increasingly used as a settlement asset across exchanges, DeFi platforms and institutional trading desks, there is growing demand for tools that extend their utility into consumer and business payments. RedotPay’s user and volume metrics, if sustained, give a concrete basis for those growth expectations.
Potential use of IPO proceeds
If RedotPay proceeds with a US IPO and raises more than $1 billion, the new capital could fund several strategic priorities. The company may invest in expanding its geographic presence in key markets such as Southeast Asia, the Middle East, Europe and Latin America – regions where remittances and cross-border commerce are major economic drivers.
It is also likely to allocate resources to product development, including deeper integration with banking systems, support for additional stablecoin issuers and networks, and enhanced security and compliance tooling. Another plausible direction is targeted mergers and acquisitions, allowing RedotPay to acquire regional licenses, customer bases or specialized technology more quickly than building everything in-house.
In parallel, going public would enable RedotPay to offer equity-based incentives at scale, which can be a powerful tool for attracting and retaining senior talent in engineering, compliance, risk, and business development.
Outlook for the stablecoin payments sector
RedotPay’s IPO ambitions underscore the maturing state of the stablecoin ecosystem. What began as a niche solution for traders seeking a dollar-like asset within crypto markets is evolving into a foundational layer for global payments and settlements. As more companies build on top of stablecoins – from remittance providers to payroll platforms and B2B settlement networks – firms that sit in the middle of these flows could become central infrastructure providers.
At the same time, the sector must contend with macroeconomic and regulatory uncertainty. Changes in interest rates, shifts in banking policy, and new rules for digital assets could all affect the economics of stablecoin issuance and the business models of intermediaries. Companies like RedotPay that are preparing for the public markets will be closely watched as indicators of how sustainable and scalable these models truly are.
For now, RedotPay’s rapid funding, fast growth in user numbers, and exploration of a high-profile US IPO highlight how quickly the stablecoin payments niche has moved from experimental to mainstream – and how intense competition is likely to become as the next wave of fintech and crypto infrastructure companies step into public markets.