RedotPay, a stablecoin payments company, announced its achievement of fintech unicorn status following a $47 million strategic investment round.
The funding round included participation from Coinbase Ventures, along with continued support from Galaxy Ventures and Vertex Ventures, and an undisclosed global tech entrepreneur, as per an announcement to Cointelegraph. In venture capital, a unicorn is defined as a privately held startup valued at $1 billion or more.
“The involvement of Coinbase Ventures, alongside the ongoing support from Galaxy Ventures and Vertex Ventures, confirms the strides we’ve made and the trust investors have in our mission,” said CEO Michael Gao.
Established in April 2023, RedotPay provides stablecoin-based cards, multicurrency wallets, and global payout solutions. Since its inception, the company has reportedly amassed over 5 million users and handled a total payment volume (TPV) of $10 billion.
Related: New MoneyGram app allows Colombians to save in stablecoins
RedotPay’s global payout gains traction
Launched in June 2025, RedotPay’s Global Payout service allows users to send cryptocurrency directly to local bank accounts or e-wallets, gaining traction in underserved areas, particularly in Latin America.
“We are currently licensed in our headquarters in Hong Kong and our satellite regions in Europe and Argentina, with many more global applications in progress,” stated a RedotPay spokesperson.
In May, RedotPay introduced its crypto-enabled payment cards in South Korea, enabling users to shop at any merchant that accepts Visa.
Looking forward, RedotPay aims to broaden its global corridors and strengthen collaborations with banks and payment networks. The company also emphasizes global licensing and compliance with regulations.
The recent funding round has brought the total amount raised by the company to nearly $90 million. Earlier in March, RedotPay secured $40 million in a Series A funding round led by Lightspeed, with contributions from HSG and Galaxy Ventures.
Related: ASIC relaxes licensing regulations for stablecoin distributors in Australia
Bastion raises $14.6 million
On Wednesday, Bastion, a startup focused on stablecoin infrastructure, raised $14.6 million in a funding round led by Coinbase Ventures, with support from Sony, Samsung Next, Andreessen Horowitz, and Hashed. Bastion offers a white-label platform that allows companies to issue stablecoins without the need for their own licenses or infrastructure.
Additionally, on Tuesday, blockchain payments firm Fnality, based in London, secured $136 million in a Series C round led by major institutions, including Bank of America, Citi, Temasek, and WisdomTree, with ongoing support from Goldman Sachs, Barclays, and others.
Magazine: Meeting the Ethereum and Polkadot co-founder who wasn’t featured in Time Magazine
