RedotPay Hits Unicorn With $47M Stablecoin Round

Hong Kong-based fintech RedotPay has officially reached unicorn status after securing $47 million in a strategic funding round, pushing its valuation above $1 billion. The milestone underscores the company’s rapid growth in the stablecoin payments sector.

According to Thursday’s announcement, Coinbase Ventures joined the round alongside a global technology entrepreneur (undisclosed). Existing investors Galaxy Ventures and Vertex Ventures also increased their commitments to the company. In just two years since its April 2023 founding, RedotPay has scaled to over 5 million users and $10 billion in annualized payment volume.

RedotPay operates stablecoin-based payment cards, multi-currency digital wallets, and global payout solutions, bridging the efficiency of blockchain with the reach of traditional payment networks. The platform allows users to spend cryptocurrencies via established rails while retaining the speed and cost advantages of digital assets.

CEO and co-founder Michael Gao commented: “The participation of Coinbase Ventures, along with the continued support from Galaxy and Vertex, validates the progress we’ve made and the confidence investors have in RedotPay’s vision.”

The new funding reflects growing institutional confidence in stablecoin payment infrastructure, as mainstream crypto adoption accelerates. RedotPay’s strong growth in users and transaction volume demonstrates rising market demand for practical crypto payment solutions.

Mike Giampapa, general partner at Galaxy Ventures, noted: “RedotPay has rapidly become a category leader in stablecoin-powered payments. Their ability to merge blockchain speed with trusted payment rails is setting a new industry standard.”

Hoolie Tejwani, head of Coinbase Ventures, emphasized the importance of practical applications: “We believe stablecoins will power the future of payments. RedotPay is executing impressively to bring this value proposition to users worldwide.”

One of the company’s standout features is its global payout service, launched in June. The feature enables users to send stablecoins and cryptocurrencies directly to local bank accounts and e-wallets, gaining strong traction in emerging markets across Latin America. It addresses inefficiencies in cross-border payments by leveraging blockchain settlement speed while offering familiar local options.

RedotPay now serves users in over 100 markets, positioning itself as a critical bridge between traditional financial infrastructure and blockchain-based payments. According to Choonchong Tay, founder and managing partner at Vertex Ventures: “RedotPay is reshaping the financial landscape, delivering revolutionary financial services to regions and populations underserved by traditional finance.”

The fresh capital will fuel RedotPay’s continued global expansion through partnerships with banks, payment networks, and other ecosystem players. The company also plans to strengthen its compliance framework and pursue additional licenses to reinforce its long-term commitment to regulatory adherence across international markets.

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