RedotPay plans to go public in the US with a valuation of 4 billion! JPMorgan Chase and Goldman Sachs jointly underwrite

Hong Kong stablecoin payment startup RedotPay officially begins preparations for an IPO in the United States, planning to list in New York with a target fundraising of over $1 billion and a company valuation exceeding $4 billion. According to Bloomberg, RedotPay has already partnered with JPMorgan Chase, Goldman Sachs, and others, with a potential listing as early as the end of 2026. The exact timeline will be adjusted based on market conditions.

IPO Plan Structure: Three Major Underwriters and Valuation Goals

(Source: Rootdata)

The core goal of RedotPay’s upcoming IPO is to raise over $1 billion in the New York market and push the company’s valuation above $4 billion. The involvement of three international investment banks—JPMorgan Chase, Goldman Sachs, and Jefferies—marks that the IPO planning has entered a substantive preparation phase. Insiders indicate that the final underwriting team may expand further, and the issuance scale and listing schedule will be adjusted dynamically according to market conditions.

If this IPO proceeds smoothly, RedotPay will become one of the largest mid-sized Asian crypto-related companies to go public in the U.S. in recent years, providing important reference for institutional valuations in the stablecoin payment sector.

2025 Three-Round Financing Timeline

March (Series A): $40 million led by Lightspeed Venture Partners

September: $47 million with participation from Galaxy Ventures and others, officially reaching unicorn status

December (Series B): $107 million led by Goodwater Capital, with participation from Pantera Capital and Blockchain Capital

Total funding for 2025 will reach $194 million, laying the capital structure foundation for this IPO.

Business Scale: Over $10 Billion in Annualized Transaction Volume, Over 6 Million Users

Since its founding in April 2023, RedotPay has rapidly expanded around core services including stablecoin payment cards, multi-currency wallets, and cross-border settlement services. As of the latest data, the platform has accumulated over 6 million registered users, covering more than 100 markets worldwide, with annualized transaction volume surpassing $10 billion and annual revenue exceeding $150 million.

By December 2025, RedotPay will have formed a strategic partnership with Ripple, integrating Ripple Payments into its platform and launching a cross-border payment feature that allows users to instantly convert crypto assets into Nigerian Naira (NGN). This demonstrates the company’s ongoing deepening of its emerging market presence and optimization of localized settlement capabilities.

Crypto Company IPO Wave: Market Context for RedotPay’s Listing

RedotPay’s IPO plan aligns with the broader trend of the crypto industry returning to public markets between 2025 and 2026. Stablecoin issuer Circle completed an IPO in 2025, raising about $1.1 billion; crypto infrastructure firm BitGo also went public in early 2026. Data shows that the total value of crypto-related IPOs surged nearly $20 billion in 2025, far exceeding the previous year.

The legislative progress of the U.S. CLARITY Act provides a clearer regulatory framework for digital asset companies, while Hong Kong regulators are gradually establishing licensing frameworks for stablecoin issuers, creating a relatively favorable external environment for RedotPay’s U.S. listing. Several other crypto firms are also rumored to be planning IPOs, indicating the industry is shifting from rapid growth to a more mature, institutionally capitalized development phase.

Frequently Asked Questions

What is RedotPay, and what are its core businesses?

RedotPay is a stablecoin payment company founded in Hong Kong in April 2023. Its main products include stablecoin payment cards, multi-currency wallets, and cross-border settlement services. The platform supports real-time payments and international transfers using stablecoins. It currently serves over 6 million users across more than 100 markets worldwide.

What are RedotPay’s IPO valuation and fundraising goals?

According to Bloomberg, RedotPay aims for a valuation exceeding $4 billion and plans to raise over $1 billion. The underwriters include JPMorgan Chase, Goldman Sachs, and Jefferies, with a potential listing in New York as early as late 2026, depending on market conditions.

Why is RedotPay choosing to list in the U.S. instead of Hong Kong?

The U.S. capital markets are larger, with a broader base of institutional investors, which can help RedotPay achieve higher valuations and access more international capital. With the advancement of the U.S. CLARITY Act, regulatory clarity for digital assets is improving, making the U.S. an attractive destination for globally oriented crypto companies seeking to go public.