What to know: RedotPay, a Hong Kong-based stablecoin payments company, is preparing a U.S. IPO that could raise more than $1 billion and value the firm at over $4 billion, according to Bloomberg. Backed by major crypto investors including Accel, Pantera Capital and Blockchain Capital, RedotPay’s offering would be among the largest IPOs to emerge from Asia’s stablecoin sector. RedotPay, a Hong Kong-based stablecoin payments upstart, plans to raise more than $1 billion in a U.S. initial public offering (IPO) that could value it at over $4 billion.
Sources close to the matter told Bloomberg that the company, which achieved unicorn status, has tapped banking heavyweights such as JPMorgan, Goldman Sachs and Jefferies for a potential New York listing as early as this year. RedotPay raised $194 million in 2025, capped by a Series B in December. That track record includes Accel, Pantera Capital and Blockchain Capital among others.
If it pulls off the IPO, it’d be one of the biggest from Asia’s stablecoin scene. Stablecoins are digital tokens with values pegged to an external reference such as the U.S. dollar. These tokens are widely used in trading cryptocurrencies and to move capital across borders. Hong Kong, like other advanced nations, has warmed up to these tokenized versions of fiat currencies and is ready to license its first stablecoin issuers next month.
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