Hong Kong-Based Stablecoin Payment Firm RedotPay Reportedly Mulls U.S. IPO, Potential Raise Exceeds $1 Billion

Deep News02-24

According to informed sources, RedotPay, a stablecoin payment company headquartered in Hong Kong, is considering an initial public offering (IPO) in the United States that could raise more than $1 billion.

The sources revealed that RedotPay is collaborating with JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group Inc. to prepare for the IPO, which could take place in New York as early as this year. They also indicated that the company may seek a valuation exceeding $4 billion.

The sources noted that deliberations are still ongoing, and details such as the size of the IPO and the valuation are subject to change. They added that other banks may join the effort at a later stage.

RedotPay did not respond to requests for comment. Representatives of the three banks declined to comment.

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