RedotPay, a Hong Kong-based stablecoin payments company, plans to raise more than $1 billion in an initial public offering (IPO) in the United States, which could value it at more than $4 billion.
Sources familiar with the matter told Bloomberg that the company, which achieved unicorn status in September last year, had tapped banking heavyweights such as JPMorgan, Goldman Sachs and Jefferies for a possible listing in New York as early as this year.
Details of the IPO, such as the exact size and timing, are still unclear and more banks could jump in.
RedotPay raised $194 million in 2025, capped by a Series B in December, and now claims more than 6 million registered users. The backers read like the Who’s Who of crypto venture capital: Accel, Pantera Capital and Blockchain Capital, among others.
If it succeeds in its IPO, it would be one of the largest in the Asian stablecoin scene.
Stablecoins are digital tokens whose values are linked to an external reference such as the US dollar. These tokens are widely used to trade cryptocurrencies and to move capital across borders.
Hong Kong, like other advanced countries, has become accustomed to these tokenized versions of fiat currencies and is ready to license its first stablecoin issuers next month.
