Hong Kong-based stablecoin payments firm RedotPay is reportedly considering a US initial public offering that could raise over $1 billion and value the company above $4 billion. According to a report citing people familiar with the matter, the company is working with banks including JPMorgan Chase, Goldman Sachs and Jefferies on a potential New York listing as early as this year. The firm, which boasts 6 million users and about $10 billion in annualized payment volume, declined to comment.
RedotPay is weighing a US initial public offering that could raise more than $1 billion and value the company at over $4 billion. The company is working with JPMorgan Chase, Goldman Sachs and Jefferies on a potential New York listing that may occur as early as this year, as reported on Tuesday.
Founded in April 2023, the company provides stablecoin-linked payment cards, multicurrency wallets and international payout services. According to its website, it has 6 million users and handles about $10 billion in annualized payment volume.
These IPO plans follow a year of significant fundraising for the firm. In 2025, RedotPay raised a total of $194 million across three separate funding rounds.
The first was a $40 million Series A round led by Lightspeed in March. In September, the company said it became a fintech unicorn after closing a $47 million strategic round with investment from Coinbase Ventures.
It later closed a $107 million Series B in December led by Goodwater Capital. That round saw participation from Pantera Capital, Blockchain Capital and Circle Ventures.
The stablecoin sector attracted significant venture capital investment throughout 2025. In August alone, investors committed almost $100 million to various sector companies.
This included a $40 million Series B for Switzerland-based M0 and a $58 million raise by US startup Rain. Funding activity continued in October with Coinflow securing $25 million in a Series A.
