Hong Kong’s RedotPay Targets $150M Pre-IPO Raise for US Listing at $4 Billion Valuation

Hong Kong stablecoin payment processor RedotPay is seeking $150 million in a pre-IPO funding round at a valuation exceeding $4 billion, positioning itself for a potential U.S. public listing as early as this year. The company, which claims profitability and no immediate fundraising pressure, is moving forward with the capital raise despite recent executive turnover, signaling strategic preparations for a major market entry. RedotPay reported annualized total payment volume surged to $10 billion in December, representing year-over-year growth of over 300%, with existing institutional backing supporting its aggressive expansion timeline.

RedotPay Deal Mechanics: Leveraging Unicorn Status

RedotPay already pulled in $194 million across rounds in late 2025, including a $107 million Series B led by Goodwater Capital. The business generates over $150 million in annualized revenue facilitating crypto-to-fiat spending through traditional payment networks. The fundamentals are there.

JPMorgan, Goldman Sachs, and Jefferies are reportedly lined up as underwriters. The $150 million raised here likely funds compliance infrastructure and market expansion ahead of the public debut.

With RedotPay, stablecoins go further: pay with a card, send internationally with stablecoin rails, and move between local currency and stablecoins using multi-currency accounts and a P2P marketplace.

See how RedotPay helps you spend, send, and access stablecoins in everyday… pic.twitter.com/WeLZFXkL2s

The timing is deliberate. BlackRock keeps expanding Bitcoin exposure. Institutional appetite is returning. The window for crypto-adjacent IPOs is reopening and RedotPay is moving fast to capitalize on it.

But there are real headwinds. At least five senior executives departed after less than a year. Multiple compliance leadership changes. And the company is currently pursuing a $4 billion valuation without a sitting CFO.

Wall Street is getting selective about crypto IPOs. Compliance disclosures will be scrutinized hard. RedotPay has strong numbers to show. It also has some awkward questions to answer before the listing.

What It Means for the Sector

A $4 billion listing validates stablecoin payments as a standalone vertical and puts pressure on legacy fintechs to integrate or get left behind. Regional banks are already feeling it. Networks like Cari exist specifically because payment flows are bleeding toward crypto-native rails.

For traders, this IPO is a bellwether. If underwriters sell the book at $4 billion despite the executive churn, it signals extreme hunger for crypto infrastructure exposure. If they struggle, it confirms that the compliance discount for offshore-originated firms is still steep and reprices every other private crypto unicorn eyeing a public exit.