RedotPay Secures First US Money Transmitter License
RedotPay provides crypto payment services aimed at bringing stablecoins beyond trading and investment into everyday spending and money management. Money transmission in the United States is regulated primarily at the state level, requiring providers to build a license portfolio jurisdiction by jurisdiction. Securing its first US money transmitter license, or MTL, therefore gives RedotPay an initial regulatory foothold as it seeks to expand access to compliant stablecoin payments for mainstream consumers.
RedotPay said it has obtained its first state-issued US money transmitter license and submitted applications in more than 20 states as part of a nationwide expansion push. The company did not identify the issuing state or disclose the exact approval date in its announcement. RedotPay also said its app has surpassed 8 million users and that it plans to focus on enabling consumers to use and manage stablecoins safely in daily life.
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The history behind this eventRedotPay Said to Put $1 Billion U.S. IPO on Hold
RedotPay provides cryptocurrency debit cards and digital-asset payment services, allowing customers to use assets including stablecoins for everyday purchases and cross-border transfers. A U.S. listing would offer a significant test of investor demand for crypto-payment companies and of the regulatory environment facing businesses that connect digital assets with conventional financial networks.
RedotPay has put plans for a U.S. initial public offering of as much as $1 billion on hold, Bloomberg reported. Other reports cited regulatory hurdles and litigation involving Binance as potential obstacles, though RedotPay has not confirmed the reason for the delay. As of Aug. 16, 2026, the company had not announced a revised filing date, listing timetable or other details on whether the offering may resume.
Hong Kong Stablecoin Payments Firm RedotPay Eyes $1 Billion U.S. IPO
Hong Kong-based RedotPay focuses on using stablecoins for payments and cross-border money transfers. The company expanded rapidly in 2025 and achieved unicorn status. A U.S. listing would be a significant example of a Hong Kong crypto payments company tapping international capital markets and improving the liquidity of its shares.
RedotPay is in talks with investment banks including JPMorgan and Goldman Sachs about a New York initial public offering as early as the end of 2026. It is seeking to raise about $1 billion at a valuation that could reach $4 billion. However, the latest reports in July 2026 said frequent departures by senior executives and concerns over potential China ties could affect the fundraising and listing timetable.
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