RedotPay US IPO
RedotPay, a Hong Kong-based stablecoin payments firm, is in discussions with JPMorgan Chase, Goldman Sachs, and Jefferies about a potential New York IPO that could raise more than $1 billion and value the company above $4 billion, according to people familiar with the matter.
People familiar with the discussions say RedotPay is working with a heavyweight underwriting lineup that includes JPMorgan Chase, Goldman Sachs, and Jefferies. The RedotPay US IPO could take place as early as this year, though the terms are still under review and additional banks may join the syndicate.
Founded in April 2023, RedotPay has moved at startup speed. In less than two years, it has built a global payments platform centered on stablecoin-linked cards, multicurrency wallets, and international payout services. According to the company’s website, it now serves more than 6 million users and processes roughly $10 billion in annualized transaction volume—metrics that help explain why a RedotPay US IPO is now firmly on the table.
RedotPay declined to comment on the IPO discussions.
From Startup to Unicorn in a Single Year
The RedotPay US IPO chatter follows an aggressive fundraising run that turned the company into a fintech unicorn. In 2025 alone, RedotPay raised a total of $194 million across three funding rounds, drawing backing from some of the most influential names in crypto and venture capital.
In March 2025, the company closed a $40 million Series A led by Lightspeed, with participation from HSG and Galaxy Ventures. That round set the stage for RedotPay’s rapid expansion across Asia, Europe, and emerging markets where dollar-linked stablecoins are increasingly used for everyday payments.
By September, RedotPay announced it had reached unicorn status after closing a $47 million strategic round. That raise included investment from Coinbase Ventures, alongside continued backing from Galaxy Ventures and Vertex Ventures, plus participation from an undisclosed global technology entrepreneur. The milestone further fueled expectations of a future RedotPay US IPO.
The momentum continued in December, when RedotPay closed a $107 million Series B led by Goodwater Capital. The round also included participation from Pantera Capital, Blockchain Capital, and Circle Ventures, with HSG returning as an investor. Taken together, the funding trajectory laid the financial groundwork for a RedotPay US IPO.
Why Public Markets Are Paying Attention
Investors tracking the RedotPay US IPO point to a broader shift in how global payments are evolving. Stablecoins—particularly those pegged to the US dollar—are increasingly used for cross-border transactions, remittances, and online commerce, offering faster settlement and lower fees than traditional banking rails.
RedotPay’s product suite is designed to sit at that intersection. Its stablecoin-linked cards allow users to spend digital dollars at merchants worldwide, while its wallets and payout tools enable businesses to move money across borders with minimal friction. That positioning has made the company a bellwether for whether stablecoin-native firms can scale sustainably—and eventually thrive as public companies via a RedotPay US IPO.
Stablecoin Sector Draws Capital at Scale
The timing of a potential RedotPay US IPO also reflects sustained investor appetite for stablecoin infrastructure. Throughout 2025, venture capital poured into companies building payments, settlement, and issuance tools tied to stablecoins.
In August, Switzerland-based M0 raised a $40 million Series B led by Polychain Capital and Ribbit Capital. Around the same time, US startup Rain secured $58 million to help banks issue regulated stablecoins.
Funding momentum continued into the fall. In October, Chicago-based Coinflow raised $25 million in a Series A led by Pantera Capital to expand its cross-border settlement services. Separately, CMT Digital launched a $136 million fund with allocations earmarked for stablecoin startups, including Coinflow and Codex. This backdrop strengthens the case for a RedotPay US IPO.
Risks, Regulation, and the Road Ahead
Still, a RedotPay US IPO would not come without scrutiny. Stablecoin regulation remains uneven across jurisdictions, and public market investors will likely probe compliance frameworks, custody arrangements, and exposure to regulatory shifts in the US and abroad.
Yet some analysts see RedotPay’s scale and backing as advantages. “Public markets are looking for real revenue, real usage, and clear product-market fit,” said one fintech investor familiar with the space. “Companies like RedotPay check many of those boxes, which is why a RedotPay US IPO is credible rather than speculative.”
A Bellwether Listing for Crypto Payments
If it proceeds, the RedotPay US IPO could become a defining moment for stablecoin-based payment companies, testing whether Wall Street is ready to value crypto-native firms alongside traditional fintech peers.
With $10 billion in annualized volume, millions of users, and deep-pocketed investors behind it, RedotPay is positioning itself as more than a crypto startup—it is pitching itself as global payments infrastructure. Whether markets agree may soon be answered if the RedotPay US IPO moves from talks to filings.
For now, the discussions alone signal how far stablecoin payments have come. And if the deal materializes, the RedotPay US IPO could mark one of the largest crypto-adjacent public listings of the cycle.
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