Stablecoin Firm RedotPay Is Said to Weigh $1 Billion US IPO (1)

RedotPay, a stablecoin payments company based in Hong Kong, is considering an initial public offering in the US to potentially raise over $1 billion, according to people familiar with the matter.

RedotPay is working with JPMorgan Chase & Co., Goldman Sachs Group Inc. and Jefferies Financial Group Inc. on a listing that could take place in New York as soon as this year, the people said, asking not to be identified because the process is private. It may seek a valuation of more than $4 billion, they said.

Considerations are ongoing and details including size and value might ...