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RedotPay

“Can a stablecoin-native card and wallet become the global payment layer for the ~1.4B unbanked and crypto-first consumers?”

Founded2023
HQHong Kong
FoundersMichael Gao
Total raised$194M (2025)
Latest roundSeries B, December 2025
IndustryFintech / Crypto
The story

Founded in 2023 in Hong Kong as a consumer crypto card and wallet enabling stablecoin spending via a Visa card. Scaled to 9M+ users across 100+ countries with $12B annualized payment volume by 2026. In June 2026 launched RedotPay Connect at Money20/20 Europe, pivoting from pure consumer to a B2B stablecoin acceptance gateway targeting merchants with up to 70% lower MDR than card rails.

Last 12 months
2025-12
2026-06
Product timeline
2023
Company founded in Hong Kong, launching crypto-backed Visa card for stablecoin spending· banking
2025
Closed $40M Series A led by Lightspeed in March· funding
2025
Closed $107M Series B led by Goodwater Capital in December; registered as VASP in Argentina· funding
2026
Launched RedotPay Connect at Money20/20 Europe — first B2B stablecoin payment gateway product· product
Regulated entities
4
regulatory licences held by RedotPay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in RedotPay’s embedded-finance stack
Payments / PSP
RedotPay Connect (self-operated)global payments
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Investing
in the full report
Accounting gap: minor
11 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.