RedotPay, a stablecoin payments platform offering crypto-linked cards, has crossed 9 million users as it reportedly considers pursuing a US initial public offering (IPO).
The Hong Kong-based company now operates across more than 100 countries and reports $12 billion in annualized payment volume. Its platform enables customers to spend supported digital assets through traditional payment networks and provides services including global transfers, multi-currency accounts, and peer-to-peer marketplace functionality.
IPO Timeline and Valuation
RedotPay is reportedly considering a confidential US IPO filing by the end of 2026, according to reports from October 26. Bloomberg reported that the company was discussing a potential pre-IPO funding round that could value it between $4 billion and $5 billion. The company has not confirmed these discussions, and any listing timeline could change.
Financial Growth and Recent Milestones
RedotPay's user expansion reflects broader growth across its financial metrics. In August, the company reported more than 8 million users, up from 6 million in November 2025, alongside approximately $180 million in annualized revenue. The company has described its business as profitable.
RedotPay recently introduced RedotPay Pro, a paid membership tier for its crypto-linked payment cards. Pro members receive 3% cashback on eligible purchases made through Apple Pay and Google Pay, with membership priced at $12.90 per month or $129 annually. The annual plan also includes waivers on physical card issuance fees and ATM fees for up to $1,000 in monthly withdrawals, plus an additional 1% annual percentage yield on assets held in RedotPay Earn.
Legal Challenges and Regulatory Path
RedotPay's IPO plans come amid ongoing legal and regulatory challenges. The company faces a lawsuit filed by Binance-affiliated entities seeking nearly $473 million in damages, with plaintiffs alleging that confidential information was used to establish a competing payments business. RedotPay has denied the allegations and stated it would vigorously defend the claims.
The company also previously addressed reports of IPO delays. Bloomberg reported in August that RedotPay had delayed its US listing plans while seeking regulatory approvals and addressing legal issues. RedotPay subsequently disputed characterizations of a formal deferral, stating it was continuing to work with partners on the process.
