RedotPay renewed its IPO talks with an audit.
RedotPay revealed it passed an official audit from a Big Four accounting firm. The stablecoin card company received a unqualified opinion, helping it for a potential upcoming IPO.
The specific name of the auditor was not disclosed, similar to how Tether’s stablecoin reserve audit was initially announced earlier this year. It was later revealed to be KPMG.
Stablecoin Company IPOs Maintain Interest
Back in January, RedotPay announced IPO plans.
However, after a potential recent legal complication with Binance slowed down these talks, it appears the team is still interested to pursue this as global stablecoin regulation grows.
A potential IPO in 2027 would mean another stablecoin company becomes publicly traded, the other being Circle, although the nature of RedotPay’s business is significantly different.
With a strong presence in Hong Kong, it remains to be seen on which exchange it may be listed.
RedotPay Stablecoin Card
RedotPay continues to be a leading stablecoin card provider.
The company is ranked top in stablecoin top-ups and spend volumes per PaymentScan metrics, and has been there for a while.
So far this month, RedotPay processed $470M including both stablecoin card top-ups (deposits), and stablecoin card spend.
Its all time volume currently stands at $7.8B with a 16.7% increase recorded over the last 3 months.
In July, stablecoin card top-up volumes reached $1B for the first time as stablecoin adoption continues to go global.
