RedotPay Seeks $150M Pre-IPO Funding at Over $4B Valuation Ahead of Planned U.S. Listing

RedotPay is pursuing a $150 million pre-IPO fundraising round at a valuation above $4 billion as it prepares for a potential U.S. public listing as early as this year, Cryptonews reports. The Hong Kong-based stablecoin payment processor said annualized total payment volume reached $10 billion in December with year-over-year growth above 300%, and it already generates over $150 million in annualized revenue from crypto-to-fiat spending via traditional payment networks. Existing backers include Coinbase Ventures and Circle Ventures, while JPMorgan, Goldman Sachs, and Jefferies are reportedly set to act as underwriters for the deal. Cryptonews noted RedotPay has experienced recent turnover among senior executives, including multiple compliance leadership changes and the absence of a sitting CFO, even as it seeks the targeted valuation.