Hong Kong stablecoin payment company RedotPay plans to go public in the US, raising $1 billion to challenge a $4 billion valuation.

According to informed sources, RedotPay, a leading stablecoin payment fintech company based in Hong Kong, is reportedly planning to conduct its initial public offering (IPO) in the United States. The company has reportedly begun close discussions with top investment banks such as JPMorgan Chase, Goldman Sachs Group, Inc., and Jefferies Financial Group Inc., with a preliminary plan to list on the stock market as early as 2026. Although details are still in the early discussion stages and the final fundraising amount and listing time will depend on market conditions, the preliminary fundraising target is expected to exceed $1 billion, with the company's overall valuation potentially exceeding $4 billion. The sources mentioned that considerations are still ongoing, including potential changes in details such as the size and valuation, and added that other banks may also join the underwriting team at a later date. RedotPay has not responded to requests for comments. Representatives from the three banks mentioned above have declined to comment. As a representative enterprise that has rapidly risen in the field of cryptocurrency payments in recent years, RedotPay has been dedicated to building a global payment infrastructure based on stablecoins since its establishment in 2023. By offering cryptocurrency debit cards and cross-border payment solutions, the company has effectively addressed the pain points of high cross-border transaction costs and inefficiencies in traditional financial systems. As of November 2025, RedotPay has surpassed 6 million registered users and operates in over 100 countries and regions globally. Its annual transaction volume has exceeded $10 billion, supported by $150 million in annual revenue, achieving stable profitability. With outstanding performance, RedotPay continues to attract investments from top global capitals, accelerating its expansion pace in 2025 through "high-frequency, high-amount" financing rounds: - March: Completed Series A financing round with Lightspeed Venture Partners leading the investment, securing its position as a leader in payment technology; - September: Received a strategic investment of $47 million from Coinbase Ventures, showing its initial presence in the blockchain ecosystem; - December: Led by Goodwater Capital, closed a $107 million Series B financing round, pushing the company's valuation over $1 billion and officially becoming a unicorn. With a total funding of $194 million for the year, RedotPay has a stellar lineup of investors, including Accel, Blockchain Capital, HSG, Pantera Capital, and Vertex Ventures among others. By the end of December's fundraising round, RedotPay's global registered users had surpassed 6 million, with its payment network covering 35 countries and regions. Currently, driven by expectations of the Trump administration adopting friendly policies towards the crypto industry, the US capital market is welcoming a new window of opportunity for crypto payment companies to go public. If RedotPay successfully completes this fundraising, it will become another significant player in the US stock market with influence similar to industry giants like Circle (CRCL.US). Although RedotPay's official statement and related advisory agencies have declined to comment on these rumors, the market generally believes that with the gradual clarity in the regulation of stablecoins, the valuation of such compliant payment platforms still has further room for growth.