RedotPay is weighing a US public offering that could raise more than $1 billion. The Hong Kong-based stablecoin payment company hired JPMorgan Chase, Goldman Sachs and Jefferies for a potential New York listing. The redotpay ipo could value the firm at over $4 billion.
Bloomberg reported the news Tuesday, citing people familiar with the matter. Terms remain under review and could change. Additional banks may join the underwriting group. RedotPay declined to comment.
Timing? As early as this year.
The company launched in April 2023. It provides stablecoin-linked payment cards, multicurrency wallets and international payout services. According to its website, RedotPay has 6 million users and processes about $10 billion in annualized payment volume.
That’s scale. Fast scale.
The redotpay ipo follows three funding rounds in 2025 that raised $194 million total. The company hit unicorn status along the way, attracting backing from major crypto and venture investors.
March brought a $40 million Series A led by Lightspeed. HSG and Galaxy Ventures participated. September delivered a $47 million strategic round that pushed RedotPay past unicorn valuation. Coinbase Ventures invested in that round, alongside Galaxy Ventures, Vertex Ventures and an undisclosed global technology entrepreneur.
December closed with a $107 million Series B. Goodwater Capital led. Pantera Capital, Blockchain Capital and Circle Ventures joined. HSG continued its support.
$194 million in one year. Three rounds. Unicorn status. Now eyeing a billion-dollar public debut.
The stablecoin payment sector pulled significant venture capital in 2025. August alone saw almost $100 million flow into the space. Switzerland-based M0 closed a $40 million Series B led by Polychain Capital and Ribbit Capital. US startup Rain raised $58 million to build tools enabling banks to issue regulated stablecoins.
Funding kept coming. Chicago-based Coinflow secured $25 million in a Series A led by Pantera Capital in October. The round targeted cross-border settlement expansion. CMT Digital later launched a $136 million fund with allocations for stablecoin startups, including Coinflow and Codex.
Investors see the pattern: stablecoins are infrastructure plays. Payment rails. Settlement layers. Real utility.
RedotPay sits at the center of that thesis. Stablecoin-linked cards bring crypto payments to retail. Multicurrency wallets eliminate forex friction. International payouts bypass legacy banking rails. The company built products users actually need.
Six million users prove demand exists. $10 billion in annualized volume proves people use them. Going from launch to unicorn to potential IPO in under three years proves execution.
But here’s the tension: crypto companies going public face regulatory scrutiny. The SEC has opinions about digital assets. Public markets demand disclosure standards that crypto-native firms don’t always meet. RedotPay operates in stablecoins specifically—assets regulators view as payment products requiring clear frameworks.
If the redotpay ipo proceeds, it would test whether public markets are ready for stablecoin infrastructure companies. Coinbase went public in 2021. That worked. Circle explored going public via SPAC. That didn’t.
RedotPay’s advantage: it’s a payment company first, crypto company second. The product is cards and wallets. Stablecoins are the rails, not the focus. That positioning might make regulators and traditional investors more comfortable.
The company is Hong Kong-based but targeting a US listing. That’s strategic. US public markets offer deeper liquidity and higher valuations than Asian exchanges for tech companies. But it also puts RedotPay directly under US regulatory jurisdiction. The company would need to satisfy SEC requirements, potentially including detailed stablecoin reserve disclosures and partner bank relationships.
JPMorgan, Goldman and Jefferies signing on signals Wall Street sees viability. These banks don’t take IPO mandates for companies they think will fail regulatory review. Their involvement suggests RedotPay cleared preliminary due diligence hurdles.
Still, terms could change. The $4 billion valuation target is preliminary. Market conditions between now and listing date will determine actual pricing. If crypto markets crash or regulatory pressure intensifies, RedotPay might delay or scale back plans.
The broader context matters here. Stablecoin regulation is moving forward globally. The US is working on frameworks. Europe implemented MiCA. Hong Kong issued guidelines. RedotPay operates in all these jurisdictions. Its compliance posture will determine whether the redotpay ipo succeeds.
Competition is fierce. Visa and Mastercard are exploring stablecoin settlement. PayPal launched PYUSD. Traditional payment giants aren’t ceding ground to crypto startups without a fight. RedotPay needs to prove it can scale faster and cheaper than incumbents adapting to blockchain rails.
The $194 million raised in 2025 gives RedotPay runway. But it also creates pressure. Investors who backed those rounds expect returns. A successful IPO delivers liquidity. A failed one leaves late-stage investors stuck.
What’s next depends on market windows. If crypto rallies and IPO markets stay hot, RedotPay could move fast. If conditions deteriorate, the company has capital to wait. Three rounds in one year means it’s not desperate for cash.
For now, watch the underwriting group. If more banks join JPMorgan, Goldman and Jefferies, that signals momentum. If the group stays small or banks drop out, that’s a warning sign.
All eyes on New York. The stablecoin payment space is about to test public markets again.
