Hong Kong Crypto Unicorn RedotPay Churns Executives in IPO Drive

RedotPay, a Hong Kong startup in the stablecoin payments space, is contending with executive turnover and sensitivities around its connections to mainland China as it seeks to raise up to $150 million just months after its last funding round.

The company is in talks with firms about the new funding, according to people familiar with the matter who asked not to be named discussing confidential information. It comes after RedotPay raised over $150 million across two rounds in September and December from backers including the venture arms of crypto giants Coinbase Global Inc. and Circle Internet Group Inc.