Hong Kong's RedotPay said to plan blockbuster $1 billion IPO in New York: Bloomberg

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Hong Kong's RedotPay said to plan blockbuster $1 billion IPO in New York: Bloomberg The stablecoin payments company has hired JPMorgan, Goldman Sachs and Jefferies, according to Bloomberg. By Omkar Godbole | Edited by Sheldon Reback Feb 24, 2026, 9:19 a.m. Make us preferred on Google (ALamCAN/Shutterstock modified by CoinDesk) What to know : RedotPay, a Hong Kong-based stablecoin payments company, is preparing a U.S. IPO that could raise more than $1 billion and value the firm at over $4 billion, according to Bloomberg. The company, which became a unicorn in 2024 and now has more than 6 million registered users, has hired JPMorgan, Goldman Sachs and Jefferies to explore a New York listing as early as this year. Backed by major crypto investors including Accel, Pantera Capital and Blockchain Capital, RedotPay’s offering would be among the largest IPOs to emerge from Asia’s stablecoin sector. RedotPay, a Hong Kong-based stablecoin payments upstart, plans to raise more than $1 billion in a U.S. initial public offering (IPO) that could value it at over $4 billion. Sources close to the matter told Bloomberg that the company, which achieved unicorn status in September last year, has tapped banking heavyweights such as JPMorgan, Goldman Sachs and Jefferies for a potential New York listing as early as this year. STORY CONTINUES BELOW Don't miss another story. Subscribe to the Crypto Daybook Americas Newsletter today . See all newsletters Sign me up By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy . Details of the IPO, such as the exact size and timeline, are still fluid, and more banks could jump in. RedotPay raised $194 million in 2025, capped by a Series B in December , and now claims more than 6 million registered users. Backers read like a Who's Who of crypto venture capital: Accel, Pantera Capital and Blockchain Capital among others. If it pulls off the IPO, it'd be one of the biggest from Asia's stablecoin scene. Stablecoins are digital tokens with values pegged to an external reference such as the U.S. dollar. These tokens are widely used in trading cryptocurrencies and to move capital across borders. Hong Kong, like other advanced nations, has warmed up to these tokenized versions of fiat currencies and is ready to license its first stablecoin issuers next month. Hong Kong Stablecoins Payment Systems IPOs More For You Tether-backed crypto exchange is ditching the ‘retail’ label to build the secret plumbing for Europe’s biggest banks By Francisco Rodrigues 4 hours ago Bit2Me secured an EU MiCA license and is expanding into new markets, including Portugal and Italy initially, with plans for a further rollout in France and Germany. What to know : Spanish crypto exchange Bit2Me’s trading volume increased eightfold from 2023 to 2025, reaching 5.3 billion euros. That came as the company shifted its focus from a consumer platform to providing backend infrastructure for banks and law enforcement. Bit2Me secured an EU MiCA license and is expanding into new markets, including Portugal and Italy initially, with plans for a further rollout in France and Germany. Read full story Latest Crypto News Bitcoin's price discovery is moving to Chicago 2 hours ago Polymarket bettors put $3 million on which crypto firm ZachXBT will expose next 2 hours ago Jane Street faces claims of insider trading that sped up Terraform's 2022 collapse 3 hours ago ETH, SOL, XRP extend losses as AI scare trade unsettles risk markets 4 hours ago Bitcoin dips under $63,000 and history says more pain ahead before bottom forms 4 hours ago Tether-backed crypto exchange is ditching the ‘retail’ label to build the secret plumbing for Europe’s biggest banks 4 hours ago Top Stories Anthony Pompliano led Procap Financial dips toe into buybacks 18 hours ago BitMine Immersion added $98 million of ether last week as losses balloon to more than $8 billion 19 hours ago Strategy logs 100th bitcoin purchase announcement, adding 592 coins last week for $39.8 million 20 hours ago Bitcoin ETFs bleed $3.8 billion in historic five-week outflow streak Feb 23, 2026 Ethereum's cofounder Vitalik Buterin sells more ether while prices continues to slide 23 hours ago To freeze or not to freeze: Satoshi and the $440 billion in bitcoin threatened by quantum computing Feb 22, 2026