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Stablecoin payments steadfast RedotPay said it has joined the ranks of fintech unicorns aft securing a $47 cardinal strategical concern round.
The rise saw information from Coinbase Ventures, with continued backing from Galaxy Ventures and Vertex Ventures, and enactment from a planetary tech entrepreneur whose individuality has not been disclosed, according to an announcement shared with Cointelegraph. In task capital, a unicorn refers to a privately held startup valued astatine $1 cardinal oregon more.
“Having Coinbase Ventures articulation us, on with the continued enactment from Galaxy Ventures and Vertex Ventures, validates the advancement we’ve made and the assurance investors person successful our vision,” CEO Michael Gao said.
Founded successful April 2023, RedotPay offers stablecoin-powered cards, multicurrency wallets and planetary payout services. The institution has reportedly reached implicit 5 cardinal users and processed $10 cardinal successful full outgo measurement (TPV) since its launch.
Related: Colombians tin soon prevention successful stablecoins with caller MoneyGram app
RedotPay’s planetary payout gains traction
RedotPay’s Global Payout service, launched successful June 2025, enables users to nonstop crypto straight to section slope accounts oregon e-wallets and is already gaining momentum successful underserved regions, including Latin America.
“We are presently licensed successful our headquarters, Hong Kong, and our outer regions successful Europe and Argentina, with galore much applications globally underway,” a RedotPay spokesperson said.
In May, RedotPay launched its crypto-enabled outgo cards successful South Korea, allowing users to marque purchases astatine immoderate Visa-supported merchant.
RedotPay launches crypto payments successful South Korea. Source: Blippi Looking ahead, RedotPay plans to grow its planetary corridors and deepen partnerships with banks and outgo networks. It besides prioritizes planetary licensing and regulatory compliance.
The latest backing circular raises the company’s full fundraising to astir $90 million. RedotPay closed a $40 cardinal Series A funding circular led by Lightspeed, with information from HSG and Galaxy Ventures successful March.
Related: ASIC eases licensing rules for stablecoin distributors successful Australia
Bastion raises $14.6 million
On Wednesday, stablecoin infrastructure startup Bastion raised $14.6 million successful a circular led by Coinbase Ventures, with backing from Sony, Samsung Next, Andreessen Horowitz and Hashed. Bastion offers a white-label level that enables companies to contented stablecoins without needing their ain licenses oregon infrastructure.
Elsewhere, connected Tuesday, London-based blockchain payments steadfast Fnality raised $136 cardinal successful a Series C round led by large 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 successful Time Magazine
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