Hong Kong-based stablecoin payments firm RedotPay is preparing to pursue an initial public offering in the United States that could raise more than $1 billion, according to sources familiar with the matter. The potential listing in Novel York, which could value the company at over $4 billion, is being advised by investment banking giants JPMorgan Chase, Goldman Sachs, and Jefferies.
RedotPay, which achieved “unicorn” status – a valuation exceeding $1 billion – in September 2024, has rapidly gained traction in the digital payments space. The company claims to have over 6 million registered users as of November 2025, fueled by $194 million in funding raised throughout 2025, culminating in a Series B funding round in December.
The planned IPO would represent one of the largest public offerings from Asia’s burgeoning stablecoin sector. Stablecoins are digital tokens designed to maintain a stable value, typically pegged to a fiat currency like the U.S. Dollar, and are increasingly used in cryptocurrency trading and cross-border transactions.
Investors in RedotPay include prominent venture capital firms specializing in cryptocurrency and blockchain technology, such as Accel, Pantera Capital, and Blockchain Capital. The company’s growth has been further bolstered by strategic partnerships, including a December 2025 collaboration with Ripple to integrate Ripple Payments into its platform, enabling users to send cryptocurrency and receive Nigerian Naira.
The move comes as Hong Kong prepares to license its first stablecoin issuers next month, signaling a growing acceptance of these digital assets by advanced economies. Although details of the IPO, including the precise offering size and timeline, remain fluid, additional banks may join the underwriting process, according to sources.
RedotPay has not yet issued an official statement regarding the IPO plans. The company previously secured funding rounds led by Lightspeed Venture Partners and included investments from Coinbase Ventures, Galaxy Ventures, and Vertex Ventures, among others.
