# RedotPay

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

Source: https://www.neobank.wiki/redotpay
Last updated: 2026-08-16
Categories: Financial technology, Hong Kong fintech, Hong Kong neobanks, Global fintech, Partner-bank neobanks, Consumer neobanks, Cryptocurrency companies, Payment platforms, Companies founded in 2023

**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](/neobank) while stating it is a fintech, not a bank.[^rp1] 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.[^rp2]

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](/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](/kast), rather than self-custody products such as [Avici](/avici) or [ether.fi](/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

- [RedotPay official website](https://www.redotpay.com/)
- [X (@RedotPay)](https://x.com/RedotPay)

## Infobox

- **Type**: Private
- **Founded**: 2023
- **Founders**: Michael Gao, Jonathan Chan
- **Headquarters**: Hong Kong
- **Model**: Custodial crypto payments / cards
- **Card**: Visa / Mastercard (prepaid)
- **Website**: [redotpay.com](https://www.redotpay.com/)

## 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/.


## References

[^rp1]: RedotPay states it is a fintech service provider, not a bank; wallets and cards are provided with licensed partners. - https://www.redotpay.com/
[^rp2]: 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