RedotPay Raises New Funds, Targets Valuation Over $4 Billion for US IPO

Gate News reports that on March 18, Hong Kong stablecoin payment company RedotPay is in talks with multiple institutions for a new funding round of up to $150 million. The company previously completed over $150 million in funding in September and December of last year, with investors including a certain CEX and Circle’s venture capital division. RedotPay is currently valued at over $1 billion, with a target valuation of over $4 billion for an IPO in the United States this year.

While pushing forward with the IPO, the company faces frequent executive changes. Over the past year, at least five senior employees have held their positions for less than 12 months, with the compliance officer role changing twice. Currently, the company is advancing its listing plans without a Chief Financial Officer.

In terms of performance, RedotPay’s total annualized payment volume surpassed $10 billion in December last year, doubling year-over-year. Revenue reached $158 million, with over 6 million users across more than 100 countries.

Additionally, some connections between RedotPay and Mainland China have attracted attention. Co-founder Dawei Yuan was a former co-founder of a certain CEX, and Chief Operating Officer Troy Yao previously managed an engineering team in China, which relocated to Hong Kong in 2025 due to concerns from U.S. investors. Investment from Beijing-based venture firm GaoRong Venture Capital was not disclosed due to China’s regulatory stance on cryptocurrencies.