RedotPay is in talks to raise up to $150 million, positioning the stablecoin payments firm for a U.S. IPO that could exceed a $4 billion valuation. The move signals continued institutional appetite for crypto payment infrastructure despite tighter regulatory scrutiny and shifting capital markets conditions.
The Hong Kong-based company is engaging investors months after securing $194 million across funding rounds in September and December 2025, according to Bloomberg. Participants included Coinbase Ventures, Circle Ventures, and Blockchain Capital. The firm said it is also targeting a U.S. listing as early as this year, though it has not confirmed a timeline.
Can Stablecoin Payments Sustain Institutional Momentum?
RedotPay’s growth reflects broader expansion in stablecoin-based payments, where firms are increasingly bridging crypto balances with traditional payment rails. The company reported annualized total payment volume (TPV) above $10 billion in December 2025, with full-year TPV rising 300% year-over-year. By comparison, leading payment-focused crypto platforms have typically reported double-digit growth rates over the same period, according to industry data.
But, the fundraising effort coincides with internal changes that may concern prospective investors. Bloomberg reported at least five senior executives exited within a year, alongside multiple shifts in compliance leadership. The company is also pursuing its IPO without a chief financial officer, raising questions about governance readiness ahead of public markets.
A company spokesperson downplayed immediate funding pressure, citing strong liquidity and operational cash flow.
“While we receive market inquiries from time to time, we remain open to investors who bring strategic value to us,” the spokesperson said, adding that the firm is evolving its structure as it scales.
Still, RedotPay’s ties to China could complicate its U.S. listing ambitions. While it does not serve mainland users, some early operations and investors are linked to the region, where crypto activity remains banned. Hong Kong’s supportive regulatory stance offers a counterbalance, but investor scrutiny is likely to intensify as IPO preparations advance.
