HK crypto platform RedotPay nets $107m series B
- ByStartupStory | December 17, 2025
Hong Kong-based crypto payments platform RedotPay has raised $107 million in an oversubscribed Series B funding round, bringing its total capital secured in 2025 to $194 million.
The round was led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, Circle Ventures, and continued support from existing investor HSG (HongShan). Founded in 2023, RedotPay enables stablecoin-powered financial services including cards, wallets, and cross-border payouts, serving over 6 million users across 100+ countries and processing more than $10 billion in annualized payment volume.
Proceeds will fund strategic acquisitions, license expansions for new markets, global hiring in engineering/product/compliance, and product innovation to bridge crypto and traditional payments. CEO Michael Gao emphasized scaling responsibly with a compliance focus while accelerating stablecoin adoption for remittances and everyday spending.
RedotPay hit unicorn status earlier this year with a $47 million strategic raise. Payment volume tripled year-on-year, with 3 million new users added through November, generating over $150 million in annualized revenue. The platform auto-converts stablecoins to fiat for bank transfers (e.g., via Circle in Brazil), bypassing slow correspondent banking.
Investors see RedotPay capturing the $5 trillion+ remittances market and everyday crypto spending as stablecoins gain regulatory clarity globally. Competition heats from Stripe’s stablecoin pilots and Circle’s payment rails, but RedotPay differentiates via seamless UX for non-crypto natives in emerging markets.
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