Hong Kong-based stablecoin payment provider RedotPay is reportedly in talks to raise $150 million in a new funding round as it prepares for a potential initial public offering (IPO) in the United States.
The company, which has seen explosive growth since its inception in April 2023, is working with major Wall Street banks, including JPMorgan Chase, Goldman Sachs, and Jefferies, to facilitate a New York listing that could value the firm at over $4 billion.
RedotPay, a Hong Kong stablecoin payments startup, is contending with executive turnover and sensitivities around its connections to mainland China as it seeks to raise up to $150 million just months after its last funding round https://t.co/JQSLjl8qJV
— Bloomberg (@business) March 18, 2026
This move signals a significant shift in institutional appetite for stablecoin-linked financial infrastructure. The potential $150 million raise follows a highly successful 2025, during which RedotPay secured $194 million across three funding rounds. Notable investors in previous rounds include Coinbase Ventures, Circle Ventures, Pantera Capital, and Lightspeed Venture Partners. The company reached “unicorn” status in September 2025 after a $47 million strategic round, underscoring its rapid ascent in the fintech sector.
Global expansion and rising payment volumes
RedotPay previously secured $40 million in a Series A funding round to expand its services and offerings. According to the firm, the investment supported its mission to integrate cryptocurrency into everyday transactions while simplifying blockchain payments for users.
RedotPay’s business model focuses on bridging the gap between digital assets and traditional finance through stablecoin-linked payment cards and multi-currency wallets. As of late 2025, the platform reported over 6 million registered users and an annualized payment volume surpassing $10 billion. The company’s services are currently available in over 100 markets, with a strong emphasis on financial inclusion in underserved regions like Africa, South America, and the Middle East.
In December 2025, the firm strengthened its technical capabilities by partnering with Ripple to integrate Ripple Payments, aiming to make cross-border transactions more efficient. Additionally, the platform launched features allowing users to send cryptocurrency and receive local fiat currency, such as the Nigerian Naira (NGN) or Brazilian Real (BRL), directly into bank accounts.
Meanwhile, a new card program was launched in Singapore through a partnership between RedotPay, Visa, and StraitsX. This collaboration marks a significant step in the everyday adoption of cryptocurrency, as it will allow users to seamlessly integrate and spend digital assets alongside traditional currency within the retail payment system.
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