RedotPay weighs confidential US IPO filing by year-end: Bloomberg

RedotPay is considering submitting a confidential filing for a US initial public offering by year-end, Bloomberg reported, citing people familiar with the matter. The potential step follows months of preparations and questions about the stablecoin payments company’s listing timetable. It remains a prospective filing rather than an announced share sale.

The Hong Kong-based company is also discussing a possible pre-IPO fundraising round with investors that could value it at between $4 billion and $5 billion, according to the report. Those talks represent a potential private financing transaction, separate from any eventual public offering. The reported valuation range is not a confirmed IPO price or completed fundraising outcome.

The latest report follows conflicting accounts of whether RedotPay’s listing schedule had slipped. Bloomberg reported in August that regulatory approvals and legal issues could push an offering into the following year or later. RedotPay subsequently disputed that characterization, saying its IPO had not been deferred and that it continued working with its partners on the process.

Earlier preparations involved a potentially substantial fundraising. In February, Bloomberg reported that RedotPay was considering a US IPO that could raise more than $1 billion at a valuation above $4 billion. That report identified JPMorgan Chase, Goldman Sachs and Jefferies as working with the company, while noting that the offering’s size and valuation remained under consideration.

RedotPay has also described work on its financial reporting and compliance controls. In September, it said a Big Four accounting firm had completed a financial audit, alongside a separate review of its anti-money laundering and counter-terrorist financing controls. The company framed those reviews as part of its preparations to go public, without announcing an offering date.

The business provides payment tools intended to connect cryptocurrency holdings with everyday spending, including physical and virtual cards. Much of its activity centers on stablecoins, according to Bloomberg’s reporting as summarized by PYMNTS. That makes its prospective listing a potential opportunity for public-market investors to assess a payments business built around the practical use of digital assets.

The distinction between submitting paperwork and completing an offering is important to the reported timetable. A confidential submission would be a preparatory milestone, not the start of public trading or confirmation that an IPO would close before year-end. Similarly, a valuation discussed with private investors would not establish the price public investors might ultimately pay.

The next concrete developments would be confirmation of a filing, an agreement on the proposed private funding or disclosure of offering terms. For now, the year-end target rests on Bloomberg’s source-based reporting rather than an announced listing schedule. RedotPay’s previously stated position is that its IPO preparations remain underway.