RedotPay has announced it has successfully raised $47M in investments from leading industry actors, according to the company’s press release.
The company is using the capital led by Coinbase Ventures, with participation from Galaxy Ventures and Vertex Ventures, to continue scaling its stablecoin payment platform.
Among its product solutions are stablecoin payouts, multi-currency wallet features and virtual card issuance accepted by 130M+ global merchants.
Reacting to the news, Co-founder and CEO Michael Gao expressed:
Our mission has always been to make digital finance accessible, secure, and efficient for everyone. 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.
RedotPay has also reached $10B in TPV (Total Payments Volume) in the last 2 years with countries like Brazil using the platform for quick payouts, and relies on strong security and compliance standards for both wallet infrastructure and KYC/AML protocols.
With international regulated licenses, such as the VASP (Virtual Asset Service Provider) license from Lithuania and Argentina, and Money Lender license in Hong Kong, the recent unicorn status company is able to service consumers worldwide in a regulated manner.
