Hong Kong's RedotPay Eyes $1B New York IPO Amid Stablecoin Boom

Just five months after becoming a unicorn, Hong Kong's RedotPay is swinging for the fences with a $1 billion New York IPO that could value the stablecoin payments company at over $4 billion.

The move signals a dramatic shift in how Wall Street views digital currency companies—no longer as speculative ventures, but as legitimate financial infrastructure plays.

Wall Street's Heavy Hitters Line Up

RedotPay has assembled an all-star banking team: JPMorgan, Goldman Sachs, and Jefferies are leading the charge for a potential listing as early as this year. The exact size and timing remain fluid, with more banks likely to join the syndicate.

The numbers tell a compelling growth story. The company raised $194 million in 2025 alone, capped by a December Series B, and now boasts over 6 million registered users. Its investor roster reads like a who's who of crypto venture capital: Accel, Pantera Capital, and Blockchain Capital among others.

If successful, this would rank among the largest IPOs to emerge from Asia's stablecoin sector—a market that barely existed a decade ago.

The Stablecoin Gold Rush

Stablecoins—digital tokens pegged to traditional currencies like the U.S. dollar—have evolved from a crypto trading tool to a global payments infrastructure. They're now moving $190 billion in daily transaction volume, rivaling traditional payment networks.

RedotPay's timing couldn't be better. Hong Kong is set to license its first stablecoin issuers next month, while other Asian financial hubs are racing to establish regulatory frameworks. The company sits at the intersection of two massive trends: the digitization of payments and the institutionalization of crypto.

Winners and Losers in the New Money Game

The biggest winners? Early investors who could see their stakes multiply as the company's valuation jumps from unicorn to potential $4 billion public company. Hong Kong also wins, cementing its position as Asia's fintech capital.

Traditional money transfer companies face a reckoning. Western Union and MoneyGram have dominated cross-border payments for decades, but stablecoin companies are offering faster, cheaper alternatives that operate 24/7.

For retail investors, the IPO represents a rare chance to own a piece of the stablecoin infrastructure that's quietly reshaping global finance. But it also raises questions about volatility and regulatory risk in a sector that's still finding its footing.