RedotPay, a Hong Kong-based company specializing in stablecoin payments, is reportedly preparing for an initial public offering (IPO) in the United States that could raise over $1 billion. This move could potentially elevate the company’s valuation to more than $4 billion.
According to sources familiar with the situation, the firm has engaged major financial institutions including JPMorgan, Goldman Sachs, and Jefferies to facilitate the IPO, which may occur as soon as this year. However, specifics regarding the size and timing of the offering remain fluid, with the possibility of additional banks joining the effort.
Having achieved unicorn status in September 2025, RedotPay raised $194 million last year, culminating in a Series B funding round in December. The company currently boasts over 6 million registered users and has attracted prominent investors such as Accel, Pantera Capital, and Blockchain Capital.
If successful, this IPO would mark one of the largest from Asia’s stablecoin sector. Stablecoins are digital currencies that maintain their value by being pegged to traditional assets like the U.S. dollar, making them popular for cryptocurrency trading and cross-border transactions.
Hong Kong is increasingly embracing these digital currencies, with plans to license its first stablecoin issuers as early as next month, reflecting a broader trend among advanced economies to regulate and integrate digital financial instruments.
RedotPay is set to launch a significant IPO in New York, aiming to raise over $1 billion and potentially valuing the company at more than $4 billion. This move underscores the growing acceptance of stablecoins in the financial landscape, particularly in Hong Kong, which is preparing to license stablecoin issuers soon.
Source: Bloomberg