Hong Kong Stablecoin Firm RedotPay Targets $1B Raise in Potential US. IPO Debut

A Stablecoin payment firm in Hong Kong, RedotPay, is reportedly set for its initial public offering (IPO) in the United States. The firm is hoping to raise $1 billing through this offering.

RedotPay Eyes U.S Investors in $1B IPO Bid

According to Bloomberg, the stablecoin payment company is considering an initial public offering in the US, with the aim of raising over $1 billion. The company is being advised by JPMorgan Chase & Co., Goldman Sachs Group Inc., and Jefferies Financial Group Inc. on the listing.

This offering is expected to take place in New York later this year. It aims to seek a market value of over $4 billion. This comes as more and more crypto firms are pivoting towards an initial public offering. Last week, Robinhood also announced a $1 billion IPO plan, similar to RedotPay.

According to sources, the criteria for the Hong Kong firm are still being finalized, and the details may change. They also mentioned that other banks may join the list later.

The company raised $194 million in 2025, including a Series B round in December, and announced that it achieved unicorn status. Investors in the round included Blockchain Capital, Pantera Capital, and others. As of November, the firm has over 6 million registered users.

Apart from its IPO plan, RedotPay allows users to make instant payments with stablecoins. With its stablecoin card and payout offering, the company has reached more than 6 million users across over 100 markets. Handling more than $10 billion in payments per year, the company claims to have generated more than $150 million in annualized revenue.

Capital Floods Crypto IPO Market With $20B Value Spike in 2025

In 2025, there was an unprecedented number of public listings of crypto-related companies. This includes Bullish, Circle, eToro, Figure, and Gemini, while experienced companies such as Grayscale Investments and Kraken have filed for IPOs. According to a report from PitchBook, the market saw a value spike of nearly $20 billion.

More companies, such as Redotpay, are lining up for an IPO in 2026 due to changes in regulations. At the top of the changes in regulations is the crypto market structure bill. This has been pending in Congress. The bill seeks to create clarity on crypto yield-bearing products and investment in stablecoins by Wall Street.

At least 11 crypto IPOs have raised around $14.6 billion, compared to four IPOs in 2024, which raised $310 million. The figures combined indicate that the industry is maturing. Crypto companies are now looking at creating bigger and more robust businesses, with IPOs and M&As as the means to achieve that.