Latest news with #RedotPay
Crypto Insight
11-05-2025
- Business
- Crypto Insight
RedotPay enters South Korea with crypto-powered payment cards
Hong Kong-based fintech firm RedotPay has reportedly launched its cryptocurrency-enabled payment cards in South Korea, positioning itself as a potential disruptor in a market dominated by traditional credit card firms and mobile payment services. The company's crypto debit cards — both physical and virtual — are now accepted at all Korean merchants that support Visa, according to a May 9 report by The Korea Economic Daily. The move marks RedotPay's latest step in global expansion, following its earlier partnership with Visa and BIN sponsor StraitsX in February 2025 to enhance cross-border crypto payment capabilities. RedotPay, founded in 2023, has rapidly scaled since the soft launch of its crypto card program in late 2024. It now serves more than 4 million users worldwide. In South Korea, users can receive a virtual card for $10 or a physical card for $100, with minimal verification requirements, including name, address, and ID. Reports on social media indicate that the card is currently available to Korean users. 'You can use it right away with your smartphone without a physical card by simply verifying your identity upon issuance,' one user wrote on X. RedotPay cards support major cryptocurrencies The RedotPay cards support major cryptocurrencies like Bitcoin and Ether and stablecoins such as USDC and USDt. Users can load their cards with crypto assets from several blockchains, including Solana, Polygon, BSC, Tron, and Arbitrum. One standout feature is RedotPay's real-time stablecoin payment and refund system. When a purchase is made, stablecoins are deducted instantly from the user's wallet. If a transaction is canceled, refunds in USDC or USDT are processed within minutes. RedotPay is also compatible with Apple Pay in Seoul, giving it an edge in a market where Apple Pay is currently limited to Hyundai Card customers. The compatibility could prove crucial as RedotPay challenges Korea's established payment infrastructure. Crypto adoption has been accelerating in South Korea, where over 16 million people reportedly hold crypto. This has also made crypto a key topic in the 2025 South Korean presidential race. On May 6, South Korea's Democratic Party leader Lee Jae-myung became the latest presidential candidate to promise the approval of spot crypto exchange-traded funds (ETFs) and other crypto-friendly measures, should he be elected. South Korea's ruling party, the People Power Party, also reportedly made crypto policy promises in late April, which included allowing spot crypto ETFs, dismantling Korea's controversial one-exchange-one-bank rule, and establishing a regulatory framework for stablecoins. Source:
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.
Yahoo
17-03-2025
- Business
- Yahoo
RedotPay Secures $40 Million in Series A Funding Amid Rising Crypto Payment Adoption in Asia
Hong Kong-based crypto payment platform RedotPay has successfully closed a $40 million Series A funding round, led by Lightspeed with contributions from HSG and Galaxy Ventures. The funding aims to enhance the company's efforts to facilitate cryptocurrency transactions in everyday payments. In November 2023, RedotPay launched physical Visa cards that enable ATM cash withdrawals, alongside a virtual card compatible with digital payment services like Apple Pay and Google Pay. The firm has expanded its blockchain integrations, incorporating Solana in December 2024 and Ethereum layer-2 solution Arbitrum in February. Despite its growth, RedotPay faces challenges with cross-border service restrictions, as users outside of Hong Kong encounter warnings when attempting to access its website. This limitation highlights the complexities of operating in the global crypto market. The trend of direct cryptocurrency payment solutions is gaining momentum across Asia. Singapore-based partnered with Triple-A in November 2024 to allow direct crypto payments without the need for fiat conversion. In contrast, competitors in Hong Kong, such as Infini, focus on stablecoin payment services but have faced setbacks, including a recent $50 million exploit involving USDC. Stablecoins, designed to maintain a value pegged to fiat currencies, are seen as more stable alternatives to volatile cryptocurrencies like Bitcoin and Ether. Japan is also making significant strides in stablecoin adoption, with a report from Tokyo's Yuri Group indicating that the government views stablecoins as a potential means to unlock $14 trillion in household savings. Sign in to access your portfolio
Associated Press
25-02-2025
- Business
- Associated Press
RedotPay Integrates Arbitrum to Transform Payment Solutions
HONG KONG, HONG KONG, February 25, 2025 / / -- Hong Kong, Feb 24, 2025 – RedotPay, a leading crypto payment fintech, today announced a strategic integration with Arbitrum, a leading layer-2 scaling solution for Ethereum. This integration aims to enhance the payment capabilities within the Arbitrum ecosystem, providing users with a seamless and efficient transaction experience. Empowering the Arbitrum Ecosystem with Enhanced Payment Solutions Through this integration, RedotPay will introduce a robust payment gateway tailored for the Arbitrum ecosystem. This initiative is designed to increase the adoption of the Arbitrum chain while simultaneously boosting RedotPay's payment services. Key benefits of this integration include: High-Speed Reliable Services: Users will benefit from RedotPay's advanced technology, ensuring transactions are processed swiftly and reliably within the Arbitrum network. Expanded Ecosystem Access: This integration enhances payment capabilities across the Arbitrum network, driving wider adoption and utility. 'Launching on Arbitrum is a significant step forward for RedotPay,' said Jackee Wong, Global Marketing Director of RedotPay. 'This integration not only supports the growth of the Arbitrum ecosystem but also empowers our users with faster and more reliable payment options that enhance their overall experience.' 'RedotPay's integration with Arbitrum demonstrates how our technology can support efficient payment solutions,' said Nina Rong, Head of Partnerships at Arbitrum Foundation. 'This collaboration showcases how Arbitrum's infrastructure can help power reliable, high-speed transactions while maintaining the robust performance standards payment providers require. We're excited to see RedotPay leverage our network to enhance payment capabilities in the blockchain ecosystem.' About RedotPay RedotPay is a leading crypto fintech bridging Web3 and traditional finance with innovative, cost-efficient blockchain solutions. Their intuitive crypto payment products enable millions of users globally to easily spend and send digital assets. They foster financial inclusion for the unbanked and serve crypto enthusiasts alike, advancing global adoption of fast and accessible crypto payments. Arbitrum is a customizable, interoperable set of solutions designed to bring businesses and people onchain. Its flagship blockchain, Arbitrum One, dominates L2 TVL with deep liquidity and streamlined deployment capabilities, powering dApp innovation across DeFi, DePIN, AI, gaming, and other verticals. Media Contacts RedotPay Jackee Wong Wanda Barbara Pawlowska RedotPay X LinkedIn Instagram YouTube Other Legal Disclaimer:
