According to a Bloomberg report, Hong Kong-based RedotPay is preparing a $1 billion U.S. IPO and could seek a valuation of up to $4 billion.RedotPay raised $107 million in a December Series B round backed by Circle, Pantera Capital and Blockchain Capital.Company data showed that it has more than 6 million users globally, with payment volume tripling in 2025.Standard Chartered expects stablecoin market value to balloon to $2 trillion by 2028, up from its current value of around $309 billion.
Circle (CRCL)-backed stablecoin company RedotPay is reportedly planning to launch a $1 billion initial public offering (IPO) in the U.S., positioning itself to benefit from improving regulatory clarity and broader stablecoin adoption.
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According to a report by Bloomberg, the exact details and size of the IPO are still under discussion, with a person familiar with the matter stating that RedotPay could seek a valuation of up to $4 billion. RedotPay has not publicly commented on the report yet.
RedotPay Saw Rapid Growth In 2025
The company raised $107 million in December 2025 during its Series-B round of funding, which included participation from USDC (USDC) stablecoin issuers Circle (CRCL), Pantera Capital, Blockchain Capital and others. This brought the total capital raised to $194 million and raised RedotPay to unicorn status with a valuation of over $1 billion.
According to the company’s data, it currently has over 6 million users across 100 countries. Payment volume on the platform tripled in 2025, with more than 3 million users being added during the year. ReddotPay says its goal is to build stablecoin-powered financial services that make moving money easy for both crypto-native and non-crypto users.
Stablecoin Market To Hit $2 Trillion By 2028
The plan to launch an IPO in the U.S. comes at a time when stablecoin adoption is expected to rise with regulatory clarity coming into play after the passage of the GENIUS Act last year and the CLARITY bill currently under discussion. Standard Chartered expects stablecoin market value to balloon to $2 trillion by 2028, up from its current value of around $309 billion, as per DefiLlama data.
While bankers and the crypto industry leaders are at odds over stablecoin rewards, Washington has set a month-end deadline for the two sides to finalize the terms of the crypto market structure bill so that the CLARITY Bill can be put forth for discussion in the Senate. Ripple CEO Brad Garlinghouse and Senator Bernie Moreno have stated that they expect the CLARITY to advance by April.
Bitcoin Weakness Weighs On Crypto Sentiment
The stalemate over the CLARITY Act, geopolitical tensions and uncertainty around President Donald Trump’s tariffs have been weighing on the crypto market, with Bitcoin (BTC) unable to climb back up over $70,000 over the past two weeks.
Bitcoin’s price was down over 4% in the last 24 hours, trading at around $63,100 after a brief dip to $62,900. On Stocktwits, retail sentiment around the apex cryptocurrency fell lower within ‘bearish’ territory over the past day.
RedotPay backer Circle’s stock was down 1.5% in overnight trade, alongside a dip in cryptocurrency markets. Retail sentiment around the stablecoin issuer also remained in ‘bearish’ territory over the past day.
The overall cryptocurrency fell 3% over the past 24 hours to $2.25 trillion, down nearly 50% for its peak of over $4.2 trillion in October last year.
Read also: Bitcoin’s Price Drops Below $63K After IBM’s Worst Day In 25 Years – Triggers $370 Million Liquidation Wave
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