PANews reported on September 25th that stablecoin payment company RedotPay completed a $47 million strategic financing round, pushing its valuation past $1 billion and officially becoming a fintech unicorn. This round was led by Coinbase Ventures, with continued support from Galaxy Ventures and Vertex Ventures, and participation from an undisclosed global tech entrepreneur.

Founded in April 2023, RedotPay offers a stablecoin payment card, a multi-currency wallet, and global payment services. To date, the company has over 5 million users and a total payment transaction volume of $10 billion. Launched in June of this year, the global payment service has made inroads in less-developed regions such as Latin America, enabling direct transfers of cryptocurrencies to local bank accounts or e-wallets.

RedotPay is currently headquartered in Hong Kong and has branches in Europe and Argentina. It has obtained licenses in relevant regions and plans to further expand its global business channels and deepen cooperation with banks and payment networks in the future, while prioritizing global licensing and compliance work.

Previously, RedotPay completed a US$40 million Series A financing round in March this year, led by Lightspeed and participated by HSG and Galaxy Ventures.