RedotPay is a Hong Kong stablecoin payments fintech offering crypto cards, wallets and global payouts; it is not a bank.

Where is RedotPay headquartered?

RedotPay is headquartered in Hong Kong.

Who founded RedotPay?

RedotPay was founded by Michael Gao, Jonathan Chan.

What type of company is RedotPay?

RedotPay is described as Custodial crypto payments / cards in its neobank.wiki profile.

What is the official RedotPay website?

The official website for RedotPay is https://www.redotpay.com/.

RedotPay

RedotPay is a Hong Kong-based financial technology company founded in 2023. It lets users hold crypto and stablecoins, spend them on partner-issued Visa and Mastercard prepaid cards, and send payouts into local currency, marketing itself as a crypto neobank while stating it is a fintech, not a bank.1 Balances are custodial: RedotPay or licensed partners hold funds.

History

RedotPay was founded in 2023 in Hong Kong by Michael Gao and Jonathan Chan. It launched as a stablecoin-powered spend and transfer app aimed at emerging-market users who want dollar-like balances and a card that works at conventional merchants. The company raised a cluster of 2025 rounds, including a US$40 million Series A in March, a later 2025 round that press described as taking it to unicorn status, and a US$107 million Series B in December 2025 led by Goodwater Capital with Pantera Capital, Blockchain Capital, Circle Ventures and existing backer HSG, bringing 2025 fundraising to US$194 million.2

At that Series B it reported more than 6 million registered users in over 100 markets, over US$10 billion annualised payment volume and over US$150 million annualised revenue. Its consumer site later advertised 8 million-plus users and a US$12 billion annualised payment-volume figure.

Founders

Michael Gao is co-founder and chief executive officer of RedotPay. He has framed the product as stablecoin-powered everyday finance: a card and wallet so users can hold crypto or dollars and spend in local currency without a traditional bank account.

Jonathan Chan is co-founder and head of partnerships. Together they built RedotPay as a custodial crypto-card and payouts platform competing with other stablecoin spend apps such as KAST, rather than self-custody products such as Avici or ether.fi.

Model and licences

RedotPay is a front-end fintech: multi-currency wallets are provided by licensed institutions, and card issuing uses Visa/Mastercard partners. The company has cited Hong Kong money-service and money-lender permissions, plus VASP/MSB-style registrations in other markets (including Lithuania and North America). It is not a deposit-taking bank and does not market FDIC-style insurance on crypto balances.

Products

Crypto cards - virtual and physical prepaid Visa/Mastercard, including Apple Pay / Google Pay, for spend at 130 million-plus merchants and ATM withdrawals.
Multi-currency wallet - crypto and local-currency balances via licensed partners.
Global send / P2P - crypto-to-local-currency payouts and an in-app P2P marketplace (selected regions).
Credit - borrow against crypto collateral under a Hong Kong money-lender licence.
Earn and swap - yield products and in-app conversions, with regional restrictions.

External links

References

RedotPay states it is a fintech service provider, not a bank; wallets and cards are provided with licensed partners. https://www.redotpay.com/
RedotPay, "RedotPay Raises US$107M in Series B to Drive Stablecoin Payments Adoption Globally" (16 December 2025). https://www.redotpay.com/news/redotpay-raises-us107m-in-series-b-to-drive-stablecoin-payments-adoption-globally

Frequently asked questions

What is RedotPay?: RedotPay is a Hong Kong stablecoin payments fintech offering crypto cards, wallets and global payouts; it is not a bank.
When was RedotPay founded?: RedotPay was founded in 2023.
Where is RedotPay headquartered?: RedotPay is headquartered in Hong Kong.
Who founded RedotPay?: RedotPay was founded by Michael Gao, Jonathan Chan.
What type of company is RedotPay?: RedotPay is described as Custodial crypto payments / cards in its neobank.wiki profile.
What is the official RedotPay website?: The official website for RedotPay is https://www.redotpay.com/.