Hong Kong-based stablecoin payments firm RedotPay is reportedly considering a U.S. initial public offering (IPO) that could raise more than $1 billion and value the company at over $4 billion. According to a Bloomberg report, the company is working with major financial institutions JPMorgan Chase, Goldman Sachs, and Jefferies on a potential New York listing that could occur as early as this year.
Founded in April 2023, RedotPay provides stablecoin-linked payment cards, multicurrency wallets, and international payout services. The company claims to serve over 6 million users across more than 100 markets and handles approximately $10 billion in annualized payment volume.
The potential IPO follows a significant year of fundraising for the firm. In 2025, RedotPay raised a total of $194 million across three funding rounds. This included a $40 million Series A led by Lightspeed, a $47 million strategic investment round that saw participation from Coinbase Ventures and turned the company into a fintech 'unicorn', and a $107 million Series B round led by Goodwater Capital with participation from Pantera Capital, Blockchain Capital, and Circle Ventures.
The report notes that terms of the potential IPO remain under review and could still change, and additional banks may join the underwriting group. RedotPay declined to comment on the matter.
This development occurs against a backdrop of significant investment in the stablecoin sector throughout 2025, where venture capital continued flowing into payment and infrastructure providers. The stablecoin market capitalization has risen above $300 billion, highlighting the growing importance of this segment within the cryptocurrency ecosystem.
