RedotPay | Crypto

RedotPay says it restructured teams for efficiency after a Bloomberg report flagged executive turnover, China sensitivities and new funding talks. Hong Kong-based stablecoin payments company RedotPay said it has “consolidated” teams to improve efficiency as it scales, after a report claimed executive turnover and sensitivities tied to its mainland China connections. On Wednesday, a Bloomberg report claimed RedotPay is facing leadership churn and sensitivities tied to China as it explores raising up to $150 million. Citing people familiar with the matter, the report said that at least five senior hires left the stablecoin company within a year, including two compliance chiefs, and described a demanding work culture with extended hours. In February, Bloomberg reported that RedotPay is considering a US IPO that could raise over $1 billion and value the company at more than $4 billion. The company was reported to be working with JPMorgan, Goldman Sachs and Jefferies on a potential New York listing that could take...

The company said the funds will support acquisitions, licensing efforts and expanded hiring as it enters new markets. Stablecoin payments company RedotPay has raised $107 million in a Series B round, bringing its total funding in 2025 to $194 million. The round was led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital and Circle Ventures, alongside continued backing from existing investors, including HSG. Founded in Hong Kong, RedotPay offers stablecoin-based payment products, including a card that enables users to spend digital assets, stablecoin-powered payout rails for cross-border transfers, and services that allow users to access and hold stablecoins through multicurrency accounts and a peer-to-peer marketplace. Read more

RedotPay said users can convert cryptocurrency into Nigerian naira and receive funds directly in their local bank accounts within minutes. RedotPay has teamed up with Ripple to launch “Send Crypto, Receive NGN,” a new feature that lets users convert digital assets into Nigerian naira and receive the funds in local bank accounts within minutes. The service is built on Ripple Payments and supports a basket of major tokens at launch, including USDC (USDC), USDt (USDT), Bitcoin (BTC), Ether (ETH), Solana (SOL), Tron (TRX), XRP (XRP) and BNB (BNB), with Ripple USD (RLUSD) expected to be added later, Ripple said in a Tuesday announcement. “RedotPay is building stablecoin‑powered payments that make digital assets as easy to use as local currency, where users can send XRP or stablecoins securely and receive NGN within minutes,” RedotPay’s CEO Michael Gao said. Read more

RedotPay’s crypto cards are now live in South Korea, challenging the country’s traditional payment networks with real-time stablecoin transactions. Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a potential disruptor in a market dominated by traditional credit card firms and mobile payment services. The company’s crypto debit cards — both physical and virtual — are now accepted at all Korean merchants that support Visa, according to a May 9 report by The Korea Economic Daily. The move marks RedotPay’s latest step in global expansion, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment capabilities. Read more