Points of Focus

• RedotPay is exploring a US IPO that could raise more than $1 billion, with talks centered on a New York listing.
• Wall Street banks are already involved, signaling growing comfort with stablecoin-based payments infrastructure.
• The move tests whether real payment volume, not trading hype, can carry a crypto-native firm into public markets.

Hong Kong-based stablecoin payments firm RedotPay is weighing a US initial public offering that could raise more than $1 billion and value the company above $4 billion – although, discussions are still ongoing and subject to change. The scale of the plan would place RedotPay among the most ambitious public-market bets on stablecoin payments as opposed to crypto trading.

If the listing goes ahead, it would land at a moment when stablecoins are pushing deeper into everyday finance. Remittances, merchant settlement, and cross-border payouts are now driving usage, even as speculative trading cools across much of the crypto market.

RedotPay’s IPO plans and Wall Street backing

RedotPay is working with JPMorgan Chase, Goldman Sachs, and Jefferies on a potential New York listing, people familiar with the matter told Bloomberg. A final timeline has not been set, and additional banks could still join.

The inclusion of these key institutional players is a significant step, as large US banks have spent years keeping distance from crypto-linked listings. Their presence points to a shift in how stablecoin payment firms are being judged, with the focus moving toward compliance, transaction flow, and whether revenue can hold up over time rather than token prices.

🚨STABLECOIN FIRM TO ENTER WALL STREET

RedotPay, a Hong Kong stablecoin payments firm, is planning a $1 BILLION US IPO, backed by JPMorgan, Goldman Sachs, and Jefferies.

TradFi is no longer fighting crypto payments. They’re financing the infrastructure behind them. pic.twitter.com/IWpB3lFRB7

— Coin Bureau (@coinbureau) February 24, 2026

Payments, not trading, drive RedotPay’s pitch

RedotPay positions itself as a payments and consumer finance platform built around stablecoins. Its products include stablecoin-linked payment cards, multi-currency wallets, and international payout services.

The company states it has around 6 million registered users and processes roughly $10 billion in annualized payment volume, figures that frame its core argument to investors that stablecoins work best when they move money rather than sit on exchanges.

This approach aligns with recent industry data. A payments-focused study published in 2025 by analytics firm Artemis found stablecoins increasingly used as “everyday money,” particularly for cross-border transfers where traditional rails remain slow and costly.

Stablecoin payments climbed from $6.0B in February to $10.2B in August, a 70% increase.

In total, more than $136B in payments have been settled since 2023. pic.twitter.com/UlQHZMOF8H

— Artemis (@artemis) October 24, 2025

Funding history and valuation context

RedotPay raised about $194 million across several rounds in 2025. That included a $40 million Series A in March, a $47 million strategic round in September, and a $107 million Series B in December. The December round valued the company above $1 billion, pushing it into unicorn territory before any IPO talks began.

https://t.co/Vut2SDSB7P

— Crypto Briefing (@Crypto_Briefing) December 16, 2025

Those numbers place the rumored $4 billion-plus IPO valuation at roughly four times its last private mark. Public investors are likely to scrutinize how payment volume translates into revenue, margins, and regulatory costs.

Hong Kong’s role as China stays restrictive

The company’s Hong Kong base adds another layer. While mainland China continues to enforce a strict ban on crypto trading and mining, Hong Kong has moved toward a regulated digital asset framework. Authorities are expected to issue their first stablecoin licenses in 2026, giving firms like RedotPay clearer rules at home while they seek capital abroad.

Hong Kong will issue its first stablecoin issuer licenses next month, Finance Secretary Paul Chan said today in his 2026–27 budget. 🇭🇰

Chan’s budget also confirmed that Hong Kong will introduce a bill this year to license digital asset dealers and custodians.

full story ⏬

— Timmy Shen (@timmyhmshen) February 25, 2026

From an investor perspective, the contrast is significant, suggesting stablecoin payment firms can grow under regulation even when large neighboring markets remain closed.

What a US listing would signal

A successful US IPO wouldn’t just fund RedotPay’s expansion; it would also test whether public markets are ready to value stablecoin infrastructure as financial plumbing rather than speculative tech.

For investors, the question is simple: can a payments-first stablecoin company prove it belongs alongside fintechs rather than token issuers? RedotPay’s filing, if it comes, may offer the first clear answer.