Hong Kong cryptocurrency payment card company Redotpay plans to secretly submit its U.S. IPO application by the end of the year, with a valuation of at least 5 billion USD

According to Bloomberg, Hong Kong cryptocurrency payment card company Redotpay is preparing to submit a confidential IPO application to the U.S. SEC by the end of the year, with a target valuation of at least $5 billion.

The report indicates that the company is still negotiating pre-IPO financing with a valuation between $4 billion and $5 billion. Public information shows that the company currently has over 9 million customers and an annual revenue of over $180 million. Redotpay also raised $194 million in 2025, with supporters including the venture capital arms of Coinbase and Circle.