(Feb 24): RedotPay, a stablecoin payments company based in Hong Kong, is considering an initial public offering (IPO) in the US to potentially raise over US$1 billion, according to people familiar with the matter.
RedotPay is working with JPMorgan Chase & Co, Goldman Sachs Group Inc and Jefferies Financial Group Inc on a listing that could take place in New York as soon as this year, the people said, asking not to be identified because the process is private. It may seek a valuation of more than US$4 billion, they said.
Considerations are ongoing and details including size and value might change, the people said, adding that other banks may also join the lineup later.
Representatives for RedotPay and the three banks declined to comment.
RedotPay raised US$194 million in 2025, including through a Series B round in December, and said it reached unicorn status. Backers include Accel, Blockchain Capital, Circle Ventures, Coinbase Ventures, Galaxy Ventures, Goodwater Capital, HSG, Pantera Capital and Vertex Ventures. As of November, the company had more than six million registered users.
Uploaded by Evelyn Chan
