Sources: Hong Kong-based stablecoin payments company RedotPay plans a US IPO filing by year-end and is in talks for a pre-IPO round at a $4B to $5B valuation

The cost to use a payment card for crypto transactions falls by up to 3%.

Hong Kong-based stablecoin payments company RedotPay is planning to file for a confidential initial public offering in the United States by the end of 2024. The company is also in discussions with investors for a pre-IPO funding round, aiming for a valuation between $4 billion and $5 billion. RedotPay offers physical and virtual cards for crypto transactions, focusing on stablecoins to enable real-world purchases. The company reports having over 9 million customers and 280 employees globally. Its annualized run-rate revenue, which reached $100 million within 18 months of its 2023 launch, has now surpassed $180 million. For the first three quarters of 2026, RedotPay's revenue increased by over 50% year-over-year, with its operating profit margin climbing to more than 50%. This follows a previous report in February that RedotPay was considering a U.S. IPO potentially raising over $1 billion.

RedotPay's planned IPO and significant pre-IPO valuation signal growing investor confidence in the crypto payments sector, especially for companies bridging digital assets with traditional finance. The company's rapid revenue growth and high operating profit margins demonstrate a viable and scalable business model in a market previously hindered by acceptance and trust issues. This move could pave the way for other crypto-native payment solutions to explore public markets, potentially increasing competition and innovation in how consumers and businesses manage and spend digital assets.

The success of RedotPay's IPO could influence regulatory scrutiny and market perception of stablecoin-based payment services. Increased mainstream adoption, facilitated by companies like RedotPay, may encourage more traditional financial institutions and FinTechs to integrate similar capabilities, leveraging existing customer trust. Investors will be watching to see if RedotPay can sustain its growth and profitability post-IPO, especially as the landscape for digital asset regulation and consumer usage continues to evolve.