Circle-backed RedotPay plans $1 bn US IPO amid stablecoin boom

Circle-backed RedotPay is planning a $1 billion US IPO, potentially seeking a valuation of up to $4 billion. The Hong Kong-based firm boasts over 6 million users and tripled payment volume in 2025. It aims to capitalise on surging stablecoin adoption as Standard Chartered predicts the market could reach $2 trillion by 2028.