Hong Kong's RedotPay said to plan blockbuster $1 billion IPO in New York: Bloomberg

The stablecoin payments institution has hired JPMorgan, Goldman Sachs and Jefferies, according to Bloomberg.

Feb 24, 2026, 9:19 a.m.

RedotPay, a Hong Kong-based stablecoin payments upstart, plans to rise much than $1 cardinal successful a U.S. archetypal nationalist offering (IPO) that could worth it astatine implicit $4 billion.

Sources adjacent to the substance told Bloomberg that the company, which achieved unicorn status successful September past year, has tapped banking heavyweights specified arsenic JPMorgan, Goldman Sachs and Jefferies for a imaginable New York listing arsenic aboriginal arsenic this year.

Details of the IPO, specified arsenic the nonstop size and timeline, are inactive fluid, and much banks could leap in.

RedotPay raised $194 cardinal successful 2025, capped by a Series B successful December, and present claims much than 6 cardinal registered users. Backers work similar a Who's Who of crypto task capital: Accel, Pantera Capital and Blockchain Capital among others.

If it pulls disconnected the IPO, it'd beryllium 1 of the biggest from Asia's stablecoin scene.

Stablecoins are integer tokens with values pegged to an outer notation specified arsenic the U.S. dollar. These tokens are wide utilized successful trading cryptocurrencies and to determination superior crossed borders.

Hong Kong, similar different precocious nations, has warmed up to these tokenized versions of fiat currencies and is ready to license its archetypal stablecoin issuers adjacent month.

Step Finance shuts operations aft $27 cardinal January hack

Step is moving connected a buyback for holders of autochthonal token STEP based connected a snpashot of holdings and worth anterior to the incident.