Two-year-old stablecoin startup RedotPay hits unicorn status with $47M Coinbase round

Stablecoin payments startup RedotPay has officially achieved RedotPay unicorn status, following a $47 million strategic investment round announced on Thursday. The funding attracted new participation from Coinbase Ventures and continued backing from Galaxy Ventures and Vertex Ventures, alongside support from an undisclosed global tech entrepreneur.

“Having Coinbase Ventures join us, along with the continued support from Galaxy Ventures and Vertex Ventures, validates the progress we’ve made and the confidence investors have in our vision,” — Michael Gao, CEO of RedotPay said.

Founded in April 2023, RedotPay has grown rapidly, reaching over 5 million users and processing more than $10 billion in total payment volume (TPV) within just two years. Its rise highlights how stablecoin-based payments are gaining traction as a mainstream financial tool, especially in regions underserved by traditional banking.

Global expansion drives RedotPay unicorn status

The company’s growth has been fueled by the expansion of its Global Payout service, launched in June 2025. The feature allows users to send crypto directly into local bank accounts or e-wallets, bypassing traditional intermediaries.

Adoption has been especially strong in Latin America, where cross-border remittances and dollarization trends have created fertile ground for crypto-powered payments.

“We are currently licensed in our headquarters, Hong Kong, and our satellite regions in Europe and Argentina, with many more applications globally underway,” — RedotPay spokesperson, in a press release.

RedotPay also expanded to South Korea in May 2025 with its Visa-enabled crypto payment cards, giving users the ability to make purchases at any Visa-supported merchant. This integration has been central to the company’s push to blend stablecoins with real-world payment networks.

Industry analysts suggest that the regulatory-first strategy has been critical to RedotPay unicorn status, helping the company avoid the compliance pitfalls that have plagued other crypto startups.

Investor confidence in RedotPay unicorn status

The latest round brings RedotPay’s total fundraising to nearly $90 million. In March 2025, the firm closed a $40 million Series A led by Lightspeed, with participation from HSG and Galaxy Ventures.

The back-to-back funding rounds show how quickly investor appetite has grown for stablecoin-focused infrastructure. Stablecoins are increasingly seen as a bridge between crypto markets and traditional finance, offering price stability while preserving the advantages of blockchain technology.

“Stablecoin adoption is now a core pillar of digital payments innovation,” said an industry analyst quoted by Reuters. “The achievement of RedotPay unicorn status signals not just the strength of one company, but also the sector’s long-term growth potential.”

Wider momentum in stablecoin payments

RedotPay’s milestone coincides with a wave of fresh investment into stablecoin-related companies:

• Bastion, a stablecoin infrastructure startup, raised $14.6 million in a round led by Coinbase Ventures with backing from Sony, Samsung Next, Andreessen Horowitz, and Hashed. Bastion provides white-label platforms for firms seeking to issue stablecoins without securing their own licenses.
• Fnality, a London-based blockchain payments firm, closed a $136 million Series C on Tuesday. Major institutions including Bank of America, Citi, Temasek, and WisdomTree participated, alongside continued investors such as Goldman Sachs and Barclays.

The clustering of large funding rounds underscores the growing belief among investors that stablecoins will form the backbone of next-generation financial infrastructure.

For crypto investors, RedotPay unicorn status is another signal that venture capital remains firmly committed to the sector, even amid fluctuating token prices. For policy makers, it highlights the importance of clear licensing frameworks, as firms with compliant strategies appear to be attracting the most significant backing.

The road ahead for RedotPay

Looking forward, RedotPay plans to expand its global corridors, deepen partnerships with banks and payment networks, and continue prioritizing compliance under evolving regulations.

CEO Michael Gao noted that achieving RedotPay unicorn status is just a milestone on the company’s roadmap: “We see this as the foundation to scale responsibly, building a global platform where stablecoins power everyday payments.”

With 5 million users, a fast-growing transaction base, and strong investor support, RedotPay’s challenge will be execution at scale balancing innovation with the complex licensing and compliance requirements across multiple jurisdictions.

For now, however, the company’s rise to unicorn status underscores its role as a key player in shaping the future of global payments.