RedotPay Weighs US IPO, Targeting $1B+ at $4B+ Valuation
Hong Kong-based stablecoin payments firm RedotPay is evaluating a U.S. initial public offering that could raise more than $1 billion and value the company at over $4 billion, Bloomberg reported, citing people familiar with the matter.
The company is working with JPMorgan Chase, Goldman Sachs and Jefferies on a potential New York listing that could occur as early as this year, according to the report. Deal terms are still being reviewed and may change, and additional banks could join the underwriting syndicate.
Founded in April 2023, RedotPay offers stablecoin-linked payment cards, multicurrency wallets and cross-border payout services. The company reports 6 million users and approximately $10 billion in annualized payment volume on its website.
RedotPay declined to comment.
RedotPay secured $194 million in 2025
The prospective U.S. listing follows a year of capital raising in 2025, during which RedotPay obtained a total of $194 million across three rounds.
In March, the company closed a $40 million Series A led by Lightspeed, with participation from HSG and Galaxy Ventures.
In September, RedotPay said it reached unicorn status after a $47 million strategic round that included Coinbase Ventures, along with continued backing from Galaxy Ventures and Vertex Ventures, and participation from an undisclosed global technology entrepreneur.
In December, the firm raised $107 million in a Series B led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital and Circle Ventures, and continued support from HSG.
Stablecoin sector draws significant funding
Stablecoin-focused companies attracted notable investment in 2025 as venture funding continued to flow into payments and infrastructure providers.
In August, investors committed nearly $100 million to the segment, including a $40 million Series B for Switzerland-based M0 led by Polychain Capital and Ribbit Capital, and a $58 million raise by U.S. startup Rain to develop tools for banks to issue regulated stablecoins.
Stablecoin market cap rises above $300 billion. Source: DefiLlama
Funding momentum continued later in the year. In October, Chicago-based Coinflow secured $25 million in a Series A led by Pantera Capital to scale cross-border settlement services, while CMT Digital subsequently launched a $136 million fund with allocations for stablecoin-focused startups, including Coinflow and Codex.
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