The stablecoin payment platform RedotPay has announced that it has successfully entered the ranks of fintech unicorns with a strategic investment of $47 million.
RedotPay stated in a press release to Cointelegraph that this round of financing was participated in by Coinbase Ventures, with continued support from Galaxy Ventures and Vertex Ventures. Additionally, a global tech entrepreneur provided support, though their identity has not been disclosed. In the venture capital field, "unicorn" typically refers to privately held startups valued at $1 billion or more.
CEO Michael Gao stated, "The participation of Coinbase Ventures, along with the continued support from Galaxy Ventures and Vertex Ventures, not only proves our development achievements but also demonstrates the high recognition of our vision by investors."
Founded in April 2023, RedotPay primarily offers stablecoin-driven cards, multi-currency wallets, and global payment services. Since its establishment, the company has surpassed 5 million users, with a cumulative transaction volume reaching $10 billion.
RedotPay's Global Payout service, launched in June 2025, allows users to directly transfer cryptocurrencies to local bank accounts or e-wallets and is currently accelerating its expansion in underserved areas, including Latin America.
A spokesperson for RedotPay stated, "Currently, the company has obtained relevant licenses in regions such as its headquarters in Hong Kong, Europe, and Argentina, and is actively pursuing more license applications globally."
In the future, RedotPay plans to continue expanding its global payment network and deepen cooperation with banks and payment networks. The company will also prioritize global license applications and compliance regulation.
The latest round of financing brings the company's total funding to nearly $90 million. In March of this year, RedotPay completed a $40 million Series A financing led by Lightspeed, with participation from HSG and Galaxy Ventures.
On Wednesday, stablecoin infrastructure startup Bastion completed a $14.6 million financing round, led by Coinbase Ventures, with participation from Sony, Samsung Next, Andreessen Horowitz, and Hashed. Bastion provides a white-label platform that allows businesses to issue stablecoins without needing their own licenses or infrastructure.
Additionally, London-based blockchain payment company Fnality completed a $136 million Series C financing round on Tuesday. This round was led by major institutions such as Bank of America, Citibank, Temasek, and WisdomTree, with continued support from Goldman Sachs and Barclays.
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Original article: “Crypto payment platform RedotPay completes $47 million financing, joins unicorn club”
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