Hong Kong–based stablecoin payments firm RedotPay eyes $1B U.S. IPO

Hong Kong-based stablecoin payments firm RedotPay is considering a U.S. initial public offering that could raise more than $1 billion and value the company at over $4 billion, Bloomberg reported, as the crypto IPO market shows renewed momentum.

RedotPay joins crypto IPO wave

The potential New York listing, expected as early as this year with JPMorgan Chase, Goldman Sachs and Jefferies involved in the process, shows growing institutional interest in regulated digital asset businesses.

Founded in April 2023, RedotPay offers stablecoin-powered payment solutions including multicurrency wallets, global payout services and crypto payment cards. The company has expanded rapidly, processing billions in annualized payment volume and building a user base of more than 6 million across more than 100 markets.

It raised a total of $194 million in 2025 through multiple financing rounds, reaching unicorn status prior to its IPO plans.

The move by RedotPay comes against the backdrop of a broader resurgence in crypto-linked public offerings following a lull.

In 2025, stablecoin issuer Circle Internet Group completed a major IPO on the NYSE, raising about $1.1 billion and achieving a valuation near $6.9 billion, highlighting investor appetite for regulated stablecoin businesses.

Similarly, crypto infrastructure firm BitGo became the first digital asset company to list in 2026, raising over $200 million and signaling that equity market interest in crypto infrastructure remains strong despite recent price turbulence in digital assets.

Beyond direct IPOs, the public markets have seen activity from special purpose acquisition companies affiliated with crypto platforms. A SPAC backed by Kraken recently completed a $345 million Nasdaq IPO to pursue digital asset deals, illustrating growing investor confidence in crypto infrastructure exposure through public equities.

While regulatory clarity and macroeconomic volatility continue to shape the landscape, RedotPay’s contemplated U.S. IPO highlights a trend of digital asset firms seeking traditional capital markets to support global expansion and institutional credibility.