Hong Kong stablecoin payment company RedotPay is raising new funds, aiming for a valuation of over $4 billion for its IPO in the United States
By: rootdata|2026/03/20 04:45:02
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Hong Kong stablecoin payment company RedotPay is in talks with several institutions for a new round of financing of up to $150 million. Previously, the company completed over $150 million in financing last year, with investors including the venture capital arms of Coinbase and Circle. RedotPay is currently valued at over $1 billion, aiming for a valuation of over $4 billion for its IPO in the United States this year.
While advancing its IPO, the company is facing frequent changes in executives, with at least five senior employees having served for less than 12 months in the past year, and the compliance officer position has changed twice. The company is moving forward with its listing plans without a chief financial officer. Additionally, some of RedotPay's connections with mainland China have raised concerns. Co-founder Dawei Yuan is a former co-founder of the cryptocurrency exchange Huobi, 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. The participation of Beijing venture capital firm Gaorong Capital has not been disclosed due to China's regulatory stance on cryptocurrencies.
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