The post HongShan-Backed Hong Kong Crypto Payment Startup Becomes Unicorn With $47 Million Round appeared on BitcoinEthereumNews.com. Redotpay offers prepaid cards for payments in cryptocurrencies. Redotpay Redotpay, a Hong Kong-based crypto payment startup, has hit unicorn status after completing a $47 million funding round from investors including Coinbase Ventures, the venture capital arm of U.S. billionaire Brian Armstrong’s crypto exchange giant Coinbase Global. Other investors who joined the round include Vertex Ventures, a unit of Singapore sovereign wealth fund Temasek, and Galaxy Ventures, the venture capital arm of U.S. billionaire Michael Novogratz’s crypto investment firm Galaxy Digital, as well as an unnamed “global technology entrepreneur,” Redotpay said in a statement on Thursday. Established in 2023 by ex-DBS banker Michael Gao, Redotpay offers prepaid cards for payments in cryptocurrencies, including stablecoins and bitcoins, across some 130 million merchants. The company also operates an app that allows the sending and receiving of cryptocurrencies and fiat currencies, with additional functions such as borrowing against crypto holdings, earning interest on digital assets and currency exchange between crypto and fiat. Redotpay said it has garnered more than 5 million users and has processed $10 billion in annualized total payments volume since its founding. Redotpay said it will use the proceeds to expand its services globally and secure regulatory licenses. “Our mission has always been to make digital finance accessible, secure, and efficient for everyone,” said Gao, cofounder and CEO of Redotpay, in the statement. “[The investors’] global expertise across both crypto and fintech will help us accelerate growth, strengthen compliance, and expand access to the broader blockchain ecosystem worldwide.” Redotpay’s latest funding round came only six months after it raised $40 million in a round led by California-based Lightspeed Venture Partners. Others who participated in that fundraising include blue-chip VCs like HongShan Capital Group (HSG), DST Global Partners and Accel. Redotpay’s rapid ascent to unicorn status comes amid a recent crypto rally… The post HongShan-Backed Hong Kong Crypto Payment Startup Becomes Unicorn With $47 Million Round appeared on BitcoinEthereumNews.com. Redotpay offers prepaid cards for payments in cryptocurrencies. Redotpay Redotpay, a Hong Kong-based crypto payment startup, has hit unicorn status after completing a $47 million funding round from investors including Coinbase Ventures, the venture capital arm of U.S. billionaire Brian Armstrong’s crypto exchange giant Coinbase Global. Other investors who joined the round include Vertex Ventures, a unit of Singapore sovereign wealth fund Temasek, and Galaxy Ventures, the venture capital arm of U.S. billionaire Michael Novogratz’s crypto investment firm Galaxy Digital, as well as an unnamed “global technology entrepreneur,” Redotpay said in a statement on Thursday. Established in 2023 by ex-DBS banker Michael Gao, Redotpay offers prepaid cards for payments in cryptocurrencies, including stablecoins and bitcoins, across some 130 million merchants. The company also operates an app that allows the sending and receiving of cryptocurrencies and fiat currencies, with additional functions such as borrowing against crypto holdings, earning interest on digital assets and currency exchange between crypto and fiat. Redotpay said it has garnered more than 5 million users and has processed $10 billion in annualized total payments volume since its founding. Redotpay said it will use the proceeds to expand its services globally and secure regulatory licenses. “Our mission has always been to make digital finance accessible, secure, and efficient for everyone,” said Gao, cofounder and CEO of Redotpay, in the statement. “[The investors’] global expertise across both crypto and fintech will help us accelerate growth, strengthen compliance, and expand access to the broader blockchain ecosystem worldwide.” Redotpay’s latest funding round came only six months after it raised $40 million in a round led by California-based Lightspeed Venture Partners. Others who participated in that fundraising include blue-chip VCs like HongShan Capital Group (HSG), DST Global Partners and Accel. Redotpay’s rapid ascent to unicorn status comes amid a recent crypto rally…