Latest news with #MichaelGao
Yahoo
6 days ago
- Business
- Yahoo
RedotPay partners with Circle to support crypto-to-fiat transfers
Crypto payments firm RedotPay has teamed up with Circle to join the Circle Payments Network (CPN) and power payments into Brazil. The move facilitates the direct transfer of cryptocurrency into Brazilian bank accounts, with an automatic conversion to Brazilian Real (BRL) upon receipt. The CPN serves as a global connector for financial institutions, providing the infrastructure necessary for executing cross-border payments with the advantage of real-time settlement. The company aims to improve the accessibility of global payments by offering reduced transaction costs and bypassing the traditional settlement period. RedotPay CEO and co-founder Michael Gao said: 'By integrating with Circle Payments Network, RedotPay is addressing two major pain points that have historically hindered cross-border payments in emerging markets.' Circle Product VP Sunil Sharma stated: 'We designed Circle Payments Network as a foundational coordination protocol for the always-on economy to connect financial institutions who share our vision of empowering emerging economies and modernising the global financial system. This is the next chapter in Circle's evolution, and RedotPay's customers will now have access to frictionless global payments.' RedotPay has launched a new feature titled "Send Crypto, Receive BRL" as the initial phase of the CPN integration to eliminate the complexities associated with cross-border payments, enabling instantaneous crypto-to-fiat deposits into Brazilian bank accounts. To support the launch, RedotPay has introduced a temporary $0 fee structure to incentivise usage. The Brazil payment channel is now accessible to RedotPay users through the company's mobile application, compatible with both iOS and Android platforms. Gao added: 'We are pleased to deliver a new stablecoin-based payment solution that effectively resolves these challenges. With our launch in Brazil, we remain committed to deliver innovative payment solutions that are faster and more affordable, so as to drive mass adoption of crypto payments and empower families and businesses to participate seamlessly in the global economy.' This follows RedotPay's Series A funding round in March, which helped garner $40m. "RedotPay partners with Circle to support crypto-to-fiat transfers " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
02-06-2025
- Business
- Yahoo
Crypto Payments Firm RedotPay Enlists Circle Payment Network in Brazil
Hong Kong-based RedotPay, a crypto payment fintech serving over four million users, has partnered with stablecoin issuer Circle's new payment network (CPN), to take the headache out of Brazil's cross-border transactions. The CPN collaboration means RedotPay users can now send cryptocurrency directly to Brazilian bank accounts, with funds automatically converted into Brazilian Real (BRL) upon arrival, the companies said on Monday. Stablecoins for payments are growing rapidly, with various estimates about the potential market size for blockchain rails and dollar-pegged tokens. Circle, issuer of the second-largest stablecoin, USDC, introduced the CPN in April, to capture some of the cross-border payments and remittances space. RedotPay, which recently raised a $40 million funding round, says it's on a mission to make global payments more accessible for underbanked populations by reducing transaction costs, as well as eliminating the traditional one to five business day settlement period typically associated with international transfers. RedotPay is addressing two major pain points that have historically hindered cross-border payments in emerging markets, according to Michael Gao, CEO & Co-Founder of RedotPay. 'For users, the process has been slow and costly with high foreign exchange rates and handling fees,' Gao said in a statement. 'Transaction success rates have also been inconsistent. For Payment Service Providers (PSPs), capital has often been trapped in prefunded accounts with different PSPs or banks across multiple countries.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
15-04-2025
- Business
- Associated Press
SmarterDx recognized as one of Modern Healthcare's 2025 Innovators Award Honorees
NEW YORK, April 15, 2025 /PRNewswire/ -- Today, Modern Healthcare announced SmarterDx, the leader in clinical AI for revenue integrity and care quality, as one of Modern Healthcare's 2025 Innovators. The program celebrates both outstanding individuals and organizations leading healthcare innovation. SmarterDx provides hospitals and health systems with clinical AI that helps them analyze the complete record of every patient to fully capture the value of care provided. Founded by physician-data scientists, their proprietary AI platform, featuring solutions SmarterPrebill ™ and SmarterDenials ™, empowers hospitals to improve quality of care scores and capture an average of $2 million in annual net new revenue per 10,000 patient discharges, achieving a 5:1 ROI. SmarterDx's solutions are leveling the playing field for clinicians and health systems, allowing them to achieve their clinical, operational, and financial goals. 'Our hospital and health system customers partner with SmarterDx because we deliver results: more accurate records and codes, fewer denials, and stronger margins,' said Michael Gao, MD, CEO and co-founder of SmarterDx. 'This recognition from Modern Healthcare reinforces what we hear from our customers — that AI can make a real difference when it's designed to understand the full clinical story.' 'Artificial intelligence, the use of data, and technology investments are transforming healthcare — streamlining workflows, improving patient care and creating new business opportunities,' said Mary Ellen Podmolik, editor-in-chief of Modern Healthcare. 'The ambitious work underway by our 2025 Innovators Awards' honorees is producing exciting results that will lead to better results for patients and these organizations that are tackling the industry's biggest challenges.' SmarterDx has experienced rapid growth since launching its revenue cycle management solutions in 2020. SmarterDx's solutions are trusted by over 40+ health systems and 150+ hospital sites across the U.S. About SmarterDx SmarterDx builds clinical AI that empowers hospitals to analyze the complete record of every patient to fully capture the value of care delivered. Founded by physicians in 2020, its proprietary AI platform understands the nuances of clinical reasoning, enabling hospitals to be true to the patient record for every discharge. By doing so, hospitals can recover millions in earned revenue, enhance care quality metrics, and optimize healthcare operations. Discover how SmarterDx is transforming healthcare at About Modern Healthcare Modern Healthcare is the most trusted business news and information brand in the healthcare industry. Modern Healthcare empowers healthcare leaders and influencers to make timely and informed business decisions. To learn more or subscribe, go to CONTACT: Bethany Dufresne AOx3 [email protected] View original content to download multimedia: SOURCE SmarterDx
Yahoo
17-03-2025
- Business
- Yahoo
RedotPay garners $40m in Series A funding
Hong Kong-based crypto payments firm RedotPay has completed a Series A funding round, raising $40m. The funding round was led by Lightspeed and included contributions from HSG and Galaxy Ventures. Additionally, DST Global Partners, Accel, and Vertex Ventures, a venture capital firm backed by Temasek, were among the other investors participating in the round. This funding will enable the company to expedite its product development, enhance its payment ecosystem, and ensure regulatory compliance across various regions. With the fresh capital, RedotPay also aims to expand its licencing footprint. PwC Corporate Finance and Venture & Growth teams were financial advisors for RedotPay throughout the funding process. Lightspeed partner Pinn Lawjindakul said: 'We are thrilled to partner with Michael Gao and his team as they work to reshape the financial landscape. RedotPay's platform is already revolutionising financial access for millions who lack access to traditional banking. We are excited to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.' RedotPay co-founder and CEO Michael Gao stated: 'Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto. As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.' Set up in April 2023, RedotPay has amassed over three million registered users worldwide, with its crypto card and payment platform. The company aims is to forge a borderless payment ecosystem that connects fiat and cryptocurrencies. RedotPay's integrates 'traditional digital payment technology' with cryptocurrencies to allows users to utilise digital assets with the 'familiarity of conventional payment methods'. Last month, RedotPay integrated with Arbitrum, a layer-2 scaling solution for Ethereum. "RedotPay garners $40m in Series A funding " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mid East Info
17-03-2025
- Business
- Mid East Info
RedotPay Secures $40 Million Series A Funding to Accelerate Global Crypto Payment Solutions - Middle East Business News and Information
Massive Media: RedotPay, a leading crypto payment platform, today announced the successful close of a $40 million Series A funding round led by Lightspeed following their commitment in December 2024, with significant investments from HSG and Galaxy Ventures. The round also saw participation from DST Global Partners, Accel, Vertex Ventures (Temasek-backed VC), among other investors. Founded in April 2023, RedotPay quickly established itself as a pioneering alternative to traditional banking for the unbanked. With over 3 million registered users globally, the industry leading crypto card & payment platform's rapid adoption underscores the growing demand for crypto-based payment solutions in everyday transactions. RedotPay's mission is to create a borderless payment ecosystem that seamlessly bridges fiat and cryptocurrencies. By integrating traditional digital payment technology with cryptocurrencies, RedotPay enables users to easily spend digital assets with the familiarity of conventional payment methods. The platform's intuitive design and focus on practical crypto applications have been key market differentiators. 'Our team takes pride in empowering millions globally with financial access while bridging the gap between fiat and crypto,' said Michael Gao, co-founder and CEO of RedotPay. 'As we scale our platform capabilities, we look forward to partnering with Lightspeed, HSG, Galaxy, and our other strategic investors to expand our reach and accelerate financial empowerment worldwide.' The round's success highlights investors' alignment with RedotPay's vision to integrate cryptocurrencies into everyday use. Lightspeed, a global multi-stage investor, leading payment and fintech-focused investor, led the funding round. Pinn Lawjindakul, Partner at Lightspeed, commented, 'We are thrilled to partner with Michael Gao and his team as they work to reshape the financial landscape. RedotPay's platform is already revolutionizing financial access for millions who lack access to traditional banking. We are excited to support RedotPay as they continue to build a more inclusive financial ecosystem and redefine the way people interact with money.' 'Crypto payments are no longer a niche concept—they are becoming a fundamental part of the global financial infrastructure. RedotPay's seamless integration of digital assets with everyday payments is a game-changer for millions of consumers globally. We're excited to be a part of their journey,' said Will Nuelle, General Partner of Galaxy Ventures. With this new funding, RedotPay plans to accelerate its product roadmap, enhance its payment ecosystem for a smoother user experience, reinforce regulatory compliance frameworks, and expand its licensing footprint across multiple jurisdictions. 'We don't just build products. We solve real problems for our users. We stay engaged by listening, being transparent, and committed to improving their experience.' Michael Gao added, 'The pace of adoption by crypto enthusiasts and those who've been left out by the traditional banking system shows that we are building something truly impactful.' PwC Corporate Finance and Venture & Growth teams served as financial advisor to RedotPay for its Series A financing round.
