RedotPay Eyes $1B+ New York IPO as Wall Street Banks Back Hong Kong Stablecoin Firm

RedotPay, a Hong Kong-based stablecoin payments firm founded in April 2023, is preparing a potential New York IPO that could raise more than $1 billion and value the company above $4 billion. The company has engaged JPMorgan, Goldman Sachs and Jefferies as advisers. RedotPay offers stablecoin-linked payment cards and multicurrency wallets and reported rapid growth through 2025: over 6 million registered users across 100+ markets, an annualised payment volume near $10 billion, and transaction activity that reportedly tripled during 2025. The firm raised $194 million in 2025, including a $107 million Series B, with investors such as Accel, Pantera Capital, Blockchain Capital, Circle Ventures, Coinbase Ventures and Galaxy Ventures. Details on IPO size and timing remain fluid and additional banks may join. The proposed US listing highlights growing Wall Street acceptance of stablecoin payment infrastructure and follows regulatory moves in Hong Kong favouring stablecoin licensing. For traders: a high-profile IPO backed by major banks could lift institutional confidence in stablecoin rails and related service providers, potentially increasing demand for associated tokens and equities; however, it may also trigger regulatory scrutiny and short-term volatility around market reactions to the offering.