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Hong Kong-based stablecoin payments company RedotPay is reportedly weighing a US initial public offering (IPO) that could raise more than $1 billion and value the company at over $4 billion.
The company is working with JPMorgan Chase, Goldman Sachs and Jefferies on a potential New York listing that may occur as early as this year, Bloomberg reported on Tuesday, citing people familiar with the matter. Terms remain under review and could change, while additional banks may join the underwriting group, per the report.
Founded in April 2023, RedotPay provides stablecoin-linked payment cards, multicurrency wallets and international payout services. According to its website, the company has 6 million users and handles about $10 billion in annualized payment volume.
RedotPay declined to comment on the matter.
Related: Binance stablecoin reserves have sunk 19% since November
RedotPay raised $194 million in 2025
The US IPO plans follow a year of fundraising for RedotPay, which raised a total of $194 million in 2025 across three rounds. In March, it closed a $40 million Series A funding round led by Lightspeed, with participation from HSG and Galaxy Ventures.
In September, the stablecoin payment company said it became a fintech unicorn after closing a $47 million strategic round that saw investment from Coinbase Ventures, alongside continued backing from Galaxy Ventures and Vertex Ventures and participation from an undisclosed global technology entrepreneur.
It later closed a $107 million Series B in December. The round was led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital and Circle Ventures, as well as continued support from HSG.
Related: Standard Chartered sticks to $2T stablecoin call but trims T-bill impact
Stablecoin sector attracts significant funding
Stablecoin-focused companies drew significant investment in 2025 as venture capital continued flowing into payment and infrastructure providers. In August, investors committed almost $100 million to the sector, including a $40 million Series B for Switzerland-based M0 led by Polychain Capital and Ribbit Capital, and a $58 million raise by US startup Rain to build tools enabling banks to issue regulated stablecoins.
Funding activity continued through the year. In October, Chicago-based Coinflow secured $25 million in a Series A led by Pantera Capital to expand cross-border settlement services, while CMT Digital later launched a $136 million fund with allocations for stablecoin startups, including Coinflow and Codex.
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