RedotPay’s Unicorn Leap: $47M Raise Signals Stablecoin Cards Are Entering the Mainstream

Making payments has become easier with a Visa card linked to cryptocurrency, removing the need for complicated exchange apps or long transfer waits. This advancement allows for instant purchases, such as getting Pad Thai immediately. What once seemed like science fiction is now possible because of RedotPay.

In September 2025, RedotPay, based in Singapore, reached a major milestone by achieving unicorn status with a valuation of over $1 billion. This achievement was driven by a $47 million investment round led by Coinbase Ventures, with support from Galaxy Ventures and Vertex. Despite being established only two years ago, RedotPay has grown rapidly, gaining 2.5 million users and raising a total of $90 million. The company’s main product is a crypto debit card, which enables users to spend stablecoins like USDT and USDC directly at any store that accepts Visa worldwide.

From Idea to Reality

RedotPay was founded in 2023 by Michael Gao and Jonathan Chan, two former bankers who saw a gap in the market. Despite billions of dollars sitting in crypto wallets globally, spending it in everyday life was far from easy. Their solution was to create a bridge that makes stablecoins usable in real-world transactions. With RedotPay, users can top up their cards with stablecoins, use them at stores, and withdraw cash from ATMs in over 170 countries. Security is reinforced through a partnership with Fireblocks, a well-known provider of digital asset custody technology.

The company’s timing could not have been better. In the aftermath of the FTX collapse, trust in exchanges weakened. RedotPay positioned itself as a secure, compliant, and user-friendly alternative. By focusing on stablecoins rather than volatile tokens, it avoided the price swings that scare off many everyday users.

The $47 million injection is not just about expansion it is about legitimacy. With Coinbase Ventures leading the round, regulators and institutions are more likely to view RedotPay as a credible player in the payments sector. This matters at a time when governments around the world are drafting clearer rules for stablecoins. RedotPay is positioning itself as a project ready to comply and scale under these new frameworks.

For users, the impact is direct. With more resources, RedotPay can expand into new markets, improve its card offerings, and negotiate better fee structures. Currently, card loading fees sit around two to three percent higher than traditional banks but many crypto users see the global accessibility as a fair trade-off.

Comparing RedotPay With Traditional Cards

 

Feature	RedotPay Crypto Card	Traditional Bank Card
Supported Currencies	USDT, USDC, other stablecoins	Local fiat currency
Global Reach	170+ countries	Often limited outside region
Fees	2–3% on loads	Typically lower
Transaction Speed	Instant with stablecoins	Instant, but dependent on banking networks
Access to Unbanked	High (no bank account needed)	Low (bank account required)

 

This comparison highlights why RedotPay is drawing attention. It is not just serving existing crypto investors but also reaching unbanked and underbanked communities worldwide. For them, the card is not a luxury it can be a lifeline.

The reaction online has been strong. Many users report positive experiences using the card abroad, praising the reliability and convenience. Content creators on platforms like YouTube and X (formerly Twitter) call it a breakthrough for practical crypto adoption. Forums are filled with discussions comparing RedotPay’s service to slow and expensive traditional bank transfers.

Of course, there are also concerns. Some users worry about the centralization risk, since RedotPay holds custody of funds like a digital bank. Others point to the fees, which could discourage smaller everyday purchases. Yet the involvement of well-known investors and the scale of the rollout have softened much of the skepticism.

Broader Impact on Crypto and Finance

The implications extend far beyond one company. If RedotPay succeeds, it could signal the beginning of mainstream adoption for stablecoin payments. This would be particularly important in emerging markets, where over 1.7 billion people remain unbanked. Sending money across borders, a process that currently costs up to 10% in fees and takes days, could become almost instant and nearly free.

Merchants also stand to benefit. Since RedotPay integrates with Visa, businesses can accept payments without needing to handle crypto directly, reducing complexity. On the regulatory side, this raise shows a clear trend toward collaboration between crypto firms and established financial systems, rather than resistance.

Looking Ahead

Speculation about RedotPay’s next steps is already underway. Some expect the company to evolve into a full digital bank, offering yield-bearing accounts for stablecoins. Others predict acquisitions of smaller competitors to consolidate the market. With $90 million in total funding and a global user base growing rapidly, RedotPay is positioned as one of the most important players in the future of digital payments.

The risks remain clear fees must eventually come down, and strong security is essential to avoid damaging hacks. But the opportunity is enormous. For the first time, crypto payments are moving beyond online exchanges and experimental apps into the everyday lives of millions of people. RedotPay’s unicorn leap is not just a corporate milestone. It may well be remembered as the moment crypto cards went from niche tools to mainstream payment solutions, reshaping how money moves in the digital age.