RedotPay, a Hong Kong-based stablecoin payments company, is considering a US initial public offering that could raise more than $1 billion and value the company at as much as $4 billion. Bloomberg, citing people familiar with the matter, reported that the firm has been discussing the deal with JPMorgan Chase, Goldman Sachs, and Jefferies, with a potential New York listing possible as soon as this year.
The plan is still under discussion. The fundraising size and final valuation could change, and the listing has not been finalized.
Wall Street banks are involved in early IPO discussions
According to the report, RedotPay is in active talks with major investment banks as it explores a US listing. If completed, the move would shift the company from private fundraising into the public market and place it directly in front of a broader pool of institutional investors.
A New York listing would also give the company access to a deeper and more liquid capital market. For crypto-linked firms, that kind of visibility can matter as much as the capital raised.
2025 brought rapid growth and unicorn status
RedotPay posted strong growth in 2025, raising a total of $194 million during the year. Its Series B financing in December pushed the company into unicorn territory.
Its backers include Accel, Blockchain Capital, Goodwater Capital, HSG, Pantera Capital, and Vertex Ventures, the venture arm tied to Singapore state investor Temasek Holdings. That investor roster has kept market attention on the company’s next financing steps.
IPO plans emerge as stablecoin regulation stays in focus
The listing discussions come as Hong Kong continues to support crypto industry development. At the same time, Chinese authorities have recently reiterated restrictions on stablecoins and tokenization of real-world assets, or RWA, while reaffirming bans on crypto trading and mining. The report also noted a prohibition on issuing renminbi-linked stablecoins without approval.
If RedotPay moves ahead with a US IPO, the deal would be watched for more than its size. For a company built around stablecoin payments, a successful public listing would also serve as a test of how global capital markets view its business and regulatory positioning.