Key Takeaways
- • RedotPay is considering a confidential U.S. IPO by year-end 2026, according to Bloomberg, which cited unnamed sources.
- • The company is in talks with investors on a pre-IPO funding round that would value it at between $4 billion and $5 billion.
- • RedotPay reports more than 9 million customers, 280 employees, and annualized run-rate revenue above $180 million, up from $100 million within 18 months of its 2023 launch.
- • Revenue for the first three quarters of 2026 rose more than 50% year over year, and operating profit margin exceeded 50%.
- • The company has faced regulatory troubles and deliberations for months, per the same report, and its business is concentrated on stablecoin-based payments.
Summary
Cryptocurrency payments company RedotPay is considering filing for a confidential initial public offering in the United States by the end of 2026, Bloomberg reported on Monday, October 26. The report, citing unnamed sources, said the Hong Kong-based company is also in discussions with investors about a possible pre-IPO funding round that would place its valuation between $4 billion and $5 billion.
RedotPay offers physical and virtual cards that let users spend digital assets on real-world purchases such as paying bills. According to Bloomberg, much of its business is concentrated on stablecoins. The company has over 9 million customers and 280 employees worldwide. Its annualized run-rate revenue reached $100 million within 18 months of its 2023 launch and has since surpassed $180 million.
Bloomberg also reported that RedotPay's revenue for the first three quarters of 2026 rose more than 50% compared with the same period a year earlier, and that its operating profit margin climbed above 50%. The report said the company has been in deliberations and dealing with regulatory issues for several months. PYMNTS had previously reported in February that RedotPay was weighing a U.S. IPO that could raise more than $1 billion, citing Bloomberg.
The story also draws on PYMNTS Intelligence research, which found in July that consumers are interested in using cryptocurrencies and stablecoins for purchases but face problems with acceptance, trust and uneven payment experiences. More than three-quarters of consumers said they would open a crypto or stablecoin wallet through an existing banking or FinTech app, a finding PYMNTS framed as an opportunity for providers to make digital asset access an extension of mobile banking.
RedotPay offers physical and virtual cards that let users spend digital assets on real-world purchases such as paying bills. According to Bloomberg, much of its business is concentrated on stablecoins. The company has over 9 million customers and 280 employees worldwide. Its annualized run-rate revenue reached $100 million within 18 months of its 2023 launch and has since surpassed $180 million.
Bloomberg also reported that RedotPay's revenue for the first three quarters of 2026 rose more than 50% compared with the same period a year earlier, and that its operating profit margin climbed above 50%. The report said the company has been in deliberations and dealing with regulatory issues for several months. PYMNTS had previously reported in February that RedotPay was weighing a U.S. IPO that could raise more than $1 billion, citing Bloomberg.
The story also draws on PYMNTS Intelligence research, which found in July that consumers are interested in using cryptocurrencies and stablecoins for purchases but face problems with acceptance, trust and uneven payment experiences. More than three-quarters of consumers said they would open a crypto or stablecoin wallet through an existing banking or FinTech app, a finding PYMNTS framed as an opportunity for providers to make digital asset access an extension of mobile banking.
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