Hong Kong-based stablecoin payments firm RedotPay is reportedly exploring an initial public offering in the United States that could raise more than $1 billion.
The company is working with JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group on a potential New York listing that could take place as soon as this year, Bloomberg reported, citing people familiar with the matter. RedotPay may seek a valuation of more than $4 billion, according to the outlet, though deliberations are ongoing, and details could change.
The firm raised $194 million in 2025, including a December Series B round that pushed it to unicorn status. Backers include Accel, Blockchain Capital, Goodwater Capital, HSG, Pantera Capital, and Vertex Ventures. As of November, the company had more than 6 million registered users.
China’s crypto hardline
China has recently tightened restrictions on stablecoins and real-world asset tokenization, even as Hong Kong continues positioning itself as a regulated hub for digital asset businesses. Mainland authorities have reiterated their sweeping ban on cryptocurrency trading and mining and barred the offshore issuance of yuan-pegged stablecoins without regulatory approval, according to prior reporting by The Block.
Chinese regulators have repeatedly warned against financial risks tied to tokenization and cross-border stablecoin activity, even as global banks and asset managers accelerate efforts around dollar-backed digital assets and blockchain-based settlement.
A potential U.S. listing would give RedotPay access to deeper pools of capital and expand its presence among international investors as stablecoin payment infrastructure continues to grow beyond crypto trading into remittances, merchant settlement, and cross-border transfers.
A recent multi-firm study, involving companies like Coinbase and Artemis, found that stablecoins are increasingly being adopted as “everyday money,” as supply nears $300 billion — a trend the Hong Kong-based firm may seek to capitalize on by going public.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
