RedotPay, a stablecoin payment provider, has successfully raised $107 million in a Series B funding round, bringing its total funding for 2025 to $194 million.
The funding round was spearheaded by Goodwater Capital, with additional support from Pantera Capital, Blockchain Capital, and Circle Ventures, as well as ongoing investment from existing backers like HSG.
Headquartered in Hong Kong, RedotPay specializes in stablecoin payment solutions, offering a card that allows users to spend digital assets, stablecoin-based systems for cross-border transfers, and services for accessing and storing stablecoins through multicurrency accounts and a peer-to-peer marketplace.
The company boasts over 6 million registered users across more than 100 markets, processes over $10 billion in annual payment volume, and reports over $150 million in annual revenue, according to a press release issued on Tuesday announcing the funding round.
RedotPay plans to allocate the new funding toward acquisitions, obtaining additional licenses, enhancing compliance operations, and expanding engineering and product teams as it enters new markets and diversifies its payment offerings.
The company last secured funding in September, raising $47 million at a valuation exceeding $1 billion, with participation from Coinbase Ventures and ongoing backing from Galaxy Ventures and Vertex Ventures.
In December, RedotPay collaborated with Ripple to introduce a crypto-to-naira payout feature, enabling users to convert digital assets into Nigerian naira and receive funds directly into local bank accounts.
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Stablecoin companies raise funds
A number of stablecoin-centered firms have secured funding this year.
In August, venture capitalists invested nearly $100 million in stablecoin infrastructure companies. Switzerland-based M0 completed a $40 million Series B led by Polychain Capital and Ribbit Capital, while the US startup Rain raised $58 million to develop tools for banks to issue regulated stablecoins.
In October, Coinflow, a stablecoin payment company, secured $25 million in a Series A funding round led by Pantera Capital. The Chicago-based company indicated that the funds would facilitate the expansion of its cross-border payments infrastructure, leveraging stablecoins to settle transactions globally.
In November, CMT Digital finalized a $136 million fund to invest in blockchain startups, with a portion earmarked for stablecoin companies. The crypto venture firm noted it has already deployed approximately 25% of the fund, including investments in Coinflow and the stablecoin company Codex.
Since the enactment of the GENIUS Act in the US on July 18, the stablecoin market has expanded by over $50 billion, reaching around $309.55 billion, with over 60% of the market share held by Tether’s USDt (USDT), as reported by DefiLlama data.
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