Stablecoin payments firm RedotPay said it joined the ranks of fintech unicorns after securing a $47 million strategic investment round.
The raise saw participation from Coinbase Ventures, with continued backing from Galaxy Ventures and Vertex Ventures, and support from a global tech entrepreneur whose identity was not disclosed, according to an announcement shared with Cointelegraph. In venture capital, a unicorn refers to a privately held startup valued at $1 billion or more.
“Having Coinbase Ventures join us, along with the continued support from Galaxy Ventures and Vertex Ventures, validates the progress we’ve made and the confidence investors have in our vision,” CEO Michael Gao said.
Founded in April 2023, RedotPay offers stablecoin-powered cards, multicurrency wallets and global payout services. The company has reportedly reached over 5 million users and processed $10 billion in total payment volume (TPV) since its launch.
Related: Colombians can soon save in stablecoins with new MoneyGram app
RedotPay’s global payout gains traction
RedotPay’s Global Payout service, launched in June 2025, enables users to send crypto directly to local bank accounts or e-wallets and is already gaining momentum in underserved regions, including Latin America.
“We are currently licensed in our headquarters, Hong Kong, and our satellite regions in Europe and Argentina, with many more applications globally underway,” a RedotPay spokesperson said.
Looking ahead, RedotPay plans to expand its global corridors and deepen partnerships with banks and payment networks. It also prioritizes global licensing and regulatory compliance.
The latest funding round raised the company’s total fundraising to nearly $90 million. RedotPay closed a $40 million Series A funding round led by Lightspeed, with participation from HSG and Galaxy Ventures in March.
Related: ASIC eases licensing rules for stablecoin distributors in Australia
Bastion raises $14.6 million
On Wednesday, stablecoin infrastructure startup Bastion raised $14.6 million in a round led by Coinbase Ventures, with backing from Sony, Samsung Next, Andreessen Horowitz and Hashed. Bastion offers a white-label platform that enables companies to issue stablecoins without needing their own licenses or infrastructure.
Elsewhere, on Tuesday, London-based blockchain payments firm Fnality raised $136 million in a Series C round led by major institutions including Bank of America, Citi, Temasek and WisdomTree, with continued backing from Goldman Sachs, Barclays and others.
Magazine: Meet the Ethereum and Polkadot co-founder who wasn’t in Time Magazine
