Hong Kong-based cryptocurrency payments platform RedotPay is reportedly planning an initial public offering (IPO) in the US. The company is aiming to raise more than $1bn through the listing. The IPO could take place in New York as soon as this year. RedotPay is working with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Jefferies Financial Group Inc. on the potential offering.
The company may seek a valuation of more than $4bn. Discussions are currently underway and details, including deal size and valuation, could change. RedotPay did not confirm the development, while representatives for the three banks declined to comment. RedotPay Press Team said: “We are unable to comment on this matter.”
The company raised $194m during 2025, including a Series B round in December. It counts Accel, Blockchain Capital, Goodwater Capital, HSG, Pantera Capital and Vertex Ventures among its investors. RedotPay’s app allows users to spend stablecoins via physical or virtual cards. According to its website, the company has more than six million users across more than 100 markets.
It also reported an annualised payment volume of more than $10bn and annualised revenue exceeding $150m. In June 2025, RedotPay partnered with Circle to join the Circle Payments Network (CPN) to support payments into Brazil.
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