RedotPay Joins the Unicorn Club: How Stablecoins Are Driving the Next Wave of Crypto Payments

Coinbase Ventures backs Hong Kong fintech as RedotPay scales global stablecoin services, highlighting growth opportunities in underserved markets and cross-border payments.

Hong Kong-based crypto payments startup RedotPay has raised USD 47 million in a funding round led by Coinbase Ventures, alongside follow-on investments from Galaxy Ventures and Vertex Ventures. The investment propels the company to unicorn status, with a valuation exceeding $1 billion, reflecting strong confidence in its stablecoin-based payments model. An undisclosed global technology entrepreneur also participated in the round.

Founded in 2023, RedotPay provides multi-currency wallets, prepaid cards, and global payout services, now serving around five million users with an annualized total payment volume of $10 billion. The startup’s rapid growth highlights the rising demand for practical crypto solutions that bridge blockchain efficiency with conventional payment systems.

Scaling Global Payments with Stablecoins

CEO and co-founder Michael Gao noted, “Having Coinbase Ventures join us, along with the continued support from Galaxy Ventures and Vertex Ventures, validates the progress we’ve made and the confidence investors have in our vision,” RedotPay’s platform leverages stablecoins digital assets pegged to major currencies to reduce volatility and enable faster, lower-cost cross-border transfers.

A standout feature is its Global Payout service, launched in June 2025. The product allows users to send stablecoins and cryptocurrencies directly to local bank accounts and e-wallets, gaining particular traction in underserved regions such as Latin America. By focusing on markets with limited banking infrastructure, RedotPay positions itself as a bridge for digital finance adoption.

Regulatory Compliance as a Growth Engine

RedotPay places regulatory licensing and compliance at the center of its global expansion. The company is currently licensed in Hong Kong, Europe, and Argentina, with applications underway in additional regions. This approach is critical to building trust with users, financial institutions, and regulators, distinguishing RedotPay from unregulated operators in the fast-evolving crypto payments landscape.

Funding History and Strategic Backing

The $47 million round increases its total funding to nearly $90 million, following RedotPay’s $40 million Series A led by Lightspeed Venture Partners in March 2025. Existing investors, including HSG, Galaxy Ventures, and Vertex Ventures, have strengthened their support. The fresh capital will be directed toward:

• Expanding global operations and partnerships
  
• Enhancing technology infrastructure and product offerings
  
• Recruiting talent in engineering, compliance, and operations
  
• Securing additional regulatory licenses
  

These initiatives aim to reinforce RedotPay’s positioning as a global player in the emerging stablecoin payments ecosystem.

Investor Confidence and Market Potential

Industry leaders have praised RedotPay’s model. Mike Giampapa of Galaxy Ventures said, “RedotPay has rapidly emerged as a category leader in stablecoin-powered payments,” while Coinbase Ventures’ Hoolie Tejwani emphasized the startup’s execution, stating, “The team is bringing stablecoins to users around the world through practical payment applications.”

The company’s growth also aligns with broader market trends:

• Regulatory tailwinds: Recent frameworks in the U.S. and Hong Kong facilitate stablecoin licensing.
  
• Rising crypto adoption: Consumers and businesses increasingly seek faster, cheaper payment options.
  
• Underserved markets: Regions with limited banking access are prime targets for digital finance solutions.
  

By combining blockchain speed with the trust of established payment rails, RedotPay is addressing core pain points in cross-border payments.

Looking Ahead: RedotPay’s Global Ambitions

With unicorn status secured, RedotPay is poised to deepen its international reach. Its strategy focuses on delivering accessible, secure, and efficient digital finance tools while building regulatory credibility and strategic partnerships.

For investors and startups in the crypto and fintech space, RedotPay’s trajectory underscores a key trend: stablecoins are increasingly viable for mainstream payments, particularly in regions underserved by traditional banking infrastructure. Execution will be critical—expanding regulatory compliance, global partnerships, and product adoption will determine whether RedotPay transforms the stablecoin payments market or simply establishes a strong brand presence.

RedotPay’s rapid rise—from a 2023 Hong Kong startup to a unicorn fintech backed by global investors—signals the growing maturity of stablecoin payments. Its focus on practical crypto applications, underserved markets, and regulatory adherence positions the company as a benchmark for the next generation of digital payment solutions. As adoption accelerates, RedotPay may well define how stablecoins are integrated into everyday finance across emerging markets and beyond.