RedotPay, a Hong Kong-based stablecoin funds upstart, plans to lift greater than $1 billion in a U.S. preliminary public providing (IPO) that might worth it at over $4 billion.
Sources near the matter informed Bloomberg that the corporate, which achieved unicorn standing in September final 12 months, has tapped banking heavyweights resembling JPMorgan, Goldman Sachs and Jefferies for a possible New York itemizing as early as this 12 months.
Particulars of the IPO, resembling the precise dimension and timeline, are nonetheless fluid, and extra banks might soar in.
RedotPay raised $194 million in 2025, capped by a Collection B in December, and now claims greater than 6 million registered customers. Backers learn like a Who’s Who of crypto enterprise capital: Accel, Pantera Capital and Blockchain Capital amongst others.
If it pulls off the IPO, it might be one of many greatest from Asia’s stablecoin scene.
Stablecoins are digital tokens with values pegged to an exterior reference such because the U.S. greenback. These tokens are extensively utilized in buying and selling cryptocurrencies and to maneuver capital throughout borders.
Hong Kong, like different superior nations, has warmed as much as these tokenized variations of fiat currencies and is able to license its first stablecoin issuers subsequent month.