Hong Kong-based stablecoin payment processor RedotPay plans a U.S. IPO that could potentially raise over $1 billion, valuing the company at upwards of $4 billion. The move reflects increased institutional interest in regulated digital asset businesses and follows successful IPOs by major players within the cryptocurrency space.
With JPMorgan Chase, Goldman Sachs, and Jefferies expected to facilitate the process, RedotPay aims to capitalize on the growing demand for stablecoin-related services. Since its founding in April 2023, RedotPay has achieved unicorn status, securing $194 million in funding by 2025, offering global stablecoin-based wallets, payout services, and crypto payment solutions.
The potential New York listing signals a revival in crypto firm listings, an area that recently saw the IPO of stablecoin issuer Circle Internet Group and the public debut of BitGo, a crypto infrastructure provider. RedotPay's pursuit of a U.S. IPO underscores the maturing relationship between traditional finance and digital assets amidst a recovering IPO market.
