[Hong Kong Stablecoin Payment Company RedotPay Raising New Funds, Targeting Over $4 Billion Valuation for U.S. IPO] Odaily Planet Daily reports that Hong Kong stablecoin payment company RedotPay is in discussions with multiple institutions for a new funding round of up to $150 million. Previously, the company raised over $150 million in September and December last year, with investors including the venture capital arms of Coinbase and Circle. RedotPay is currently valued at over $1 billion and aims to go public in the U.S. this year with a valuation exceeding $4 billion. While advancing its IPO plans, the company is facing frequent executive turnover. Over the past year, at least five senior employees have served less than 12 months, and the compliance officer role has been replaced twice. Currently, the IPO is being pursued without a Chief Financial Officer. According to investor materials reviewed by Bloomberg, RedotPay's annualized total payment volume surpassed $10 billion in December last year, doubling year-over-year, with revenue reaching $158 million and a user base of over 6 million spanning more than 100 countries. Additionally, RedotPay's connections to mainland China have drawn attention. Co-founder Dawei Yuan is a former co-founder of the cryptocurrency exchange Huobi, and Chief Operating Officer Troy Yao previously managed an engineering team in China, which was relocated to Hong Kong in 2025 due to concerns from U.S. investors. The participation of Beijing-based venture capital firm Gaorong Capital has not been disclosed publicly due to China's regulatory stance on cryptocurrencies.