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RedotPay of Hong Kong reportedly intends to pursue a significant $1 billion initial public offering in New York, according to Bloomberg.
The stablecoin payments firm has engaged JPMorgan, Goldman Sachs, and Jefferies, as reported by Bloomberg.
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What to know:
- RedotPay, a stablecoin payments firm based in Hong Kong, is planning a U.S. initial public offering (IPO) that may generate over $1 billion and value the company at more than $4 billion, as reported by Bloomberg.
- The firm, which reached unicorn status in 2024 and currently boasts over 6 million registered users, has engaged the services of JPMorgan, Goldman Sachs, and Jefferies to facilitate a New York listing potentially this year.
- Supported by prominent crypto investors like Accel, Pantera Capital, and Blockchain Capital, RedotPay’s IPO would rank among the largest to come from Asia’s stablecoin market.
RedotPay, a Hong Kong-based company specializing in stablecoin payments, aims to secure over $1 billion through a U.S. initial public offering (IPO) that could value it at over $4 billion.
According to sources familiar with the situation, the company, which attained unicorn status in September of the previous year, has enlisted major banks including JPMorgan, Goldman Sachs, and Jefferies for a potential listing in New York as early as this year.
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Details regarding the IPO, including its specific size and timeline, remain uncertain, and additional banks may become involved.
RedotPay raised $194 million in 2025, concluding with a Series B round in December, and now claims more than 6 million registered users. Its investors include notable names in crypto venture capital such as Accel, Pantera Capital, and Blockchain Capital.
If successful, the IPO would represent one of the most significant from the stablecoin sector in Asia.
Stablecoins are digital assets whose values are linked to an external reference, like the U.S. dollar. These assets are commonly utilized for trading cryptocurrencies and facilitating capital movement across borders.
Hong Kong, similar to other developed countries, has shown increasing interest in these tokenized forms of fiat currencies and is set to grant licenses to its inaugural stablecoin issuers next month.
