Hong Kong stablecoin payment company RedotPay completes $47 million funding round at over $1 billion valuation, Coinbase Ventures leads investment

Techub News, according to Cointelegraph, Hong Kong-based stablecoin payment company RedotPay has completed a $47 million strategic funding round at a valuation exceeding $1 billion. This round was led by Coinbase Ventures, with participation from Galaxy Ventures, Vertex Ventures, and others.

RedotPay was established in April 2023, offering stablecoin payment cards, multi-currency wallets, and global payment services. To date, the company has over 5 million users, with total payment transaction volume reaching $10 billion. The global payment service launched this June has made progress in less developed regions such as Latin America, enabling direct transfers of cryptocurrency to local bank accounts or e-wallets. RedotPay is currently headquartered in Hong Kong, with branches in Europe and Argentina, and has obtained licenses in relevant regions. Future plans include further expanding global business channels, deepening cooperation with banks and payment networks, while prioritizing global licensing and compliance efforts.