RedotPay, a Hong Kong-based fintech startup, has raised $47 million in a strategic investment round that propelled its valuation above $1 billion, achieving unicorn status. The funding attracted prominent venture capital firms, including Coinbase Ventures as a new backer, along with existing investors Galaxy Ventures and Vertex Ventures. CEO Michael Gao highlighted that this support reflects strong confidence in the company's innovative approach to blending blockchain efficiency with traditional payment networks.
Since its inception in April 2023, RedotPay has experienced rapid growth, amassing over 5 million customers across more than 100 markets and processing an annualized total payment volume (TPV) of over $10 billion. The company offers a suite of payment solutions centered on stablecoins, such as multicurrency wallets, stablecoin-powered cards, and its Global Payout service launched in June 2025, which allows users to send cryptocurrencies directly to local bank accounts or e-wallets. This service has seen significant adoption in emerging markets like Latin America, addressing gaps in financial access.
RedotPay holds licenses in key regions, including Hong Kong, Europe, and Argentina, and is actively pursuing additional regulatory approvals to ensure compliance and facilitate cross-border transactions. The new funds will accelerate global expansion, enhance banking relationships, and invest in technology and product development. This milestone coincides with increased investor interest in the stablecoin payments space, evidenced by recent raises from firms like Bastion ($14.6 million) and Fnality ($136 million), signaling a competitive and growing ecosystem for enterprise-grade solutions.