Hong Kong crypto payment firm RedotPay wraps $40M Series A funding round

Direct crypto payments are gaining traction across Asia, with stablecoins emerging as natural payment rails for major economies.

Hong Kong-based crypto payment platform RedotPay closed a $40 million Series A funding round led by Lightspeed, with participation from HSG and Galaxy Ventures.

RedotPay aims to enable cryptocurrency use in everyday transactions while simplifying blockchain transactions for spenders, akin to fiat. In November 2023, the company launched its own physical Visa cards, which can be used for ATM cash withdrawals, along with a virtual card that supports digital payment services like Apple Pay and Google Pay.

The company has expanded its blockchain integrations, adding Solana in December 2024 and Ethereum layer 2 Arbitrum in February. Additionally, it partnered with StraitX and Visa to support retail crypto payments in Singapore.

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