RedotPay, a Hong Kong-based stablecoin payments startup, plans to raise more than $1 billion in a US initial public offering (IPO) that could value it at more than $4 billion.
Sources close to the matter told Bloomberg that the company, which achieved unicorn status in September last year, has tapped banking heavyweights such as JPMorgan, Goldman Sachs and Jefferies for a possible listing in New York as early as this year.
Details of the IPO, such as the exact size and timeline, are still unclear, and more banks could participate.
RedotPay raised $194 million in 2025, capped by a Series B in December, and now has more than 6 million registered users. The backers read like a who’s who of crypto venture capital: Accel, Pantera Capital, and Blockchain Capital, among others.
If it pulls off the IPO, it would be one of the biggest in Asia’s stablecoin scene.
Stablecoins are digital tokens with values pegged to an external reference such as the US dollar. These tokens are widely used in cryptocurrency trading and to move capital across borders.
Hong Kong, like other advanced nations, has become accustomed to these tokenized versions of fiat currencies and is set to license its first stablecoin issuers next month.
