Hong Kong's RedotPay is pushing ahead with plans to raise roughly $150 million in fresh funding as it accelerates preparations for a U.S. IPO. Bloomberg reports the round could value the stablecoin payments firm at over $4 billion, placing it among the most closely watched crypto payment companies entering public markets this year.
The fundraising follows two earlier rounds held in September and December 2025, which collectively raised $194 million. Those rounds attracted top-tier investors including Coinbase Ventures, Circle Ventures and Blockchain Capital, helping RedotPay achieve unicorn status in a short operational window.
A company spokesperson said the firm is not under immediate financial pressure, citing strong liquidity and consistent cash flow. However, it remains open to investors offering strategic value beyond capital.
Business Growth: $10B+ Annual Run Rate
RedotPay enables users to spend digital assets through traditional payment networks, bridging stablecoins and everyday commerce. It reported $10 billion in annualized total payment volume as of December 2025, with full-year transaction volume growing 300% year over year.
Internal Turmoil: High-Level Departures, No CFO
Rapid expansion is accompanied by notable internal shifts. At least five senior executives left after less than a year at the company, according to Bloomberg. The firm has also seen multiple transitions in compliance leadership and is pursuing its IPO without a chief financial officer.
Company representatives described these changes as part of a transition from an early-stage startup to a more structured enterprise, fine-tuning leadership and operational models to support long-term growth and regulatory alignment across jurisdictions.
China Ties Draw Investor Scrutiny
RedotPay's historical links to China—some founders and early operations originated there—have raised concerns among potential U.S. investors. The company does not serve mainland users and has relocated part of its team to Hong Kong to align with a cleaner regulatory environment. However, the presence of Beijing-based Gaorong Ventures in its investor base adds complexity, given China's continued crypto restrictions, including trading bans and tighter oversight on tokenization and offshore yuan stablecoins.
Hong Kong continues to position itself as a regulated hub for digital assets, offering frameworks that balance innovation with compliance. RedotPay operates within that ecosystem as it moves closer to its U.S. listing.