RedotPay IPO push for $4B valued faces exec churn and no CFO

Hong Kong stablecoin payments firm RedotPay is still pursuing a potential U.S. IPO that could value it at over $4 billion. However, Bloomberg reports executive turnover and internal strain are creating governance and execution concerns. Bloomberg said at least five senior hires left in the past 12 months, including two compliance chiefs, and described a demanding work culture. RedotPay did not directly confirm the specific claims, but said co-founders—including CEO Michael Gao—still lead key functions, and it has not yet appointed a CFO. It is also discussing raising up to $150 million. Traders should note the RedotPay IPO narrative remains intact, supported by reported growth: investor materials cited annualized payment volume above $10 billion in December, revenue doubling to $158 million, and 6+ million users across 100+ countries. Still, the lack of a CFO and leadership churn may make markets more skeptical about timelines for scaling stablecoin payments adoption. On funding, RedotPay said there is no urgency because of strong operating cash flow and liquidity, though it remains open to investors.