Redotpay, a fintech of payments based in Hong Kong, said that he had raised $ 47 million in strategic investment, calling on Coinbase Ventures as a new funder in a lap which has raised its valuation greater than $ 1 billion, which gave it the status of so-called unicorn.
The tour included the contributions of existing investors Galaxy Ventures and Vertex Ventures, the company said in an email on Thursday.
Redotpay aims to mix the speed and efficiency of the blockchain with traditional payment networks. Founded in 2023, the company has more than 5 million users on more than 100 markets and processes a billion $ 10 billion through cards fueled by Stablecoin, portfolios with several titles and global payment services.
The new money will accelerate growth, compliance and integration with the wider blockchain ecosystem, said CEO Michael Gao in the announcement by email.
The global payment function of Redotpay allows users to send stalls directly to local bank accounts or to electronic portfolios, an offer that has experienced strong adoption in emerging markets like Latin America, the company said.
The status of the ascent of the company at La Licorne occurs at a time when competition between transmitters and stable payment rails intensifies, partly due to the regulation of Stablecoin which is introduced in some of the main jurisdictions in the world.
