Key Insights:
- RedotPay is considering a US IPO to raise more than $1B at a valuation of $4B this year.
- In 2025, the firm raised 194M in funding and reached over 6M registered users worldwide.
- Stablecoin payment companies grow as US banking and financing speed up.
RedotPay’s IPO plans are advancing as the Hong Kong-based stablecoin payments company evaluates a U.S. public listing that could raise more than $1 billion and value the firm at over $4 billion.
RedotPay IPO Plans Follow Year of Fundraising
Bloomberg reported on Tuesday that the proposed offering is expected to take place in New York later this year, although sources cited in the report said terms remain under discussion and could change.
The company is collaborating with JPMorgan Chase & Co., Goldman Sachs Group Inc., and Jefferies Financial Group Inc. as advisers for the potential listing, and other banks could be included in the syndicate at a later stage.
The RedotPay IPO consideration follows a year of capital raising activity in 2025. The company raised $194 million across three funding rounds during the year. In March, it completed a $40 million Series A round led by Lightspeed, with participation from HSG and Galaxy Ventures.
In September, RedotPay announced it had become a fintech unicorn after closing a $47 million strategic round. That financing included investment from Coinbase Ventures, alongside continued backing from Galaxy Ventures and Vertex Ventures, and participation from an undisclosed global technology entrepreneur.
The company also completed a Series B round in December as part of its 2025 fundraising activity. Investors in the broader funding cycle included Blockchain Capital and Pantera Capital.
Following these rounds, RedotPay reported achieving unicorn status and stated that it had surpassed 6 million registered users as of November. The contemplated RedotPay IPO would follow these private capital raises and represent a shift to public markets at a targeted valuation exceeding $4 billion.
Market Reach and Stablecoin Payment Business
RedotPay develops stablecoin-based payment services. Its payout infrastructure and payment cards accommodate transactions in over 100 markets. The company claims to process more than $10 billion in payment volume each year.
Its offerings also include stablecoin-linked cards that allow customers to spend digital funds and multicurrency wallets to facilitate cross-border payments.
Additionally, in August alone, investors committed nearly $100 million to the sector. Switzerland-based M0 secured a $40 million Series B round led by Polychain Capital and Ribbit Capital, while U.S.-based startup Rain raised $58 million to develop tools enabling banks to issue regulated stablecoins.
Additionally, funding extended into the fourth quarter. Chicago-based Coinflow, which is engaged in cross-border settlement, raised $ 25 million in a Series A round in October, led by Pantera Capital. Nevertheless, CMT Digital announced a $136 million fund that had investments in stablecoin startups, including Coinflow and Codex.
Public Markets and Regulatory Environment Listing.
RedotPay’s IPO consideration also fits into a broader trend of increased public issuance by crypto-related firms. Some of the companies that went public this year include Bullish, Circle, eToro, Figure, and Gemini.
In addition, established firms such as Grayscale Investments and Kraken filed for initial public offerings. According to a PitchBook report, the market saw a nearly $20 billion increase in valuation tied to crypto-related public listings.
The environment has coincided with pending regulatory developments in the United States, including a bill in Congress to reform the crypto market structure. The legislation seeks to clarify the treatment of crypto yield-bearing products and Wall Street investment in stablecoins. Sources cited in reporting on the RedotPay IPO said that listing criteria are still being finalized and that details could shift as planning continues.
The offering is currently expected to take place in New York later this year, subject to market conditions and regulatory processes. Robinhood also announced plans for a $1 billion IPO last week, reflecting continued movement among digital asset and fintech companies toward U.S. public markets.
