RedotPay, a stablecoin payments company based in Hong Kong, is considering an initial public offering in the US to potentially raise over $1 billion, according to people familiar with the matter.

RedotPay is working with JPMorgan Chase & Co, Goldman Sachs Group Inc and Jefferies Financial Group Inc on a listing that could take place in New York as soon as this year, the people said, asking not to be identified because the process is private. It may seek a valuation of more than $4 billion, they said.

Considerations are ongoing and details including size and value might change, the people said, adding that other banks may also join the lineup later.

RedotPay didn’t respond to a request for comment. Representatives for the three banks declined to comment.  

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RedotPay raised $194 million in 2025, including through a Series B round in December, and said it reached unicorn status. Backers include Accel, Blockchain Capital, Goodwater Capital, HSG, Pantera Capital and Vertex Ventures. As of November, the company had more than 6 million registered users.