RedotPay’s core products include stablecoin-based cards, multi-currency wallets and global payout solutions
RedotPay, a global stablecoin-based payment fintech, has closed a $47 million strategic investment. The round saw new participation from Coinbase Ventures and a global technology entrepreneur, with increased commitments from Galaxy Ventures and Vertex Ventures.
Our mission has always been to make digital finance accessible, secure, and efficient for everyone, said Michael Gao, co-founder and CEO of RedotPay.
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. Their global expertise across both crypto and fintech will help us accelerate growth, strengthen compliance, and expand access to the broader blockchain ecosystem worldwide, he said.
RedotPay’s core products include stablecoin-based cards, multi-currency wallets and global payout solutions. These combine the speed and efficiency of stablecoins with the reach of established payment networks. This unique value proposition has driven the company’s scale to more than five million users and $10 billion in annualized total payment volume (TPV) in two years.
It has also advanced financial inclusion by bringing accessible payment services to underserved markets.
RedotPay has rapidly emerged as a category leader in stablecoin-powered payments. Their ability to combine the speed of blockchain with the trust of established payment rails is setting new standards for the industry, said Mike Giampapa, general partner of Galaxy Ventures. We’re proud to deepen our investment as RedotPay scales globally and brings inclusive financial services to millions more users.
We believe stablecoins will power the future of payments. The team at RedotPay are executing impressively to bring this value proposition to users around the world. We’re proud to support them as part of our common goal to bring billions of users on-chain, said Hoolie Tejwani, head of Coinbase Ventures.
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