Hong Kong-based payments fintech RedotPay has raised a $107 million in a Series B round as it scales stablecoin-powered payments across more than 100 countries, betting that blockchain rails can compete directly with traditional cross-border finance.

The oversubscribed round, led by Goodwater Capital with participation from Pantera Capital, Blockchain Capital, and Circle Ventures, brings RedotPay’s total capital raised in 2025 to $194 million, it said in a release.

RedotPay said it now serves more than 6 million users globally, processes over $10 billion in annualized payment volume, and generates more than $150 million in annualized revenue as stablecoin adoption accelerates in payments and remittances.

Earlier this year, RedotPay hit unicorn status when it closed a round for $47 million with backing from Coinbase Ventures, Galaxy, and Vertex.

Founded in 2023, RedotPay offers stablecoin-based cards, wallets, and payout services aimed at cutting the cost and settlement time of cross-border payments, particularly in emerging markets. Payment volume nearly tripled year-on-year in 2025, with more than 3 million new users joining the platform through November, the company said.

The funding comes as competition heats up among stablecoin issuers and payments firms seeking to capture remittances and everyday spending. Redot Pay said it will use some of the proceeds of the round to expand its geographical coverage.

Earlier this year, RedotPay enabled crypto-to-fiat transfers direct to users' bank accounts using Circle’s payment network in Brazil, automatically converting stablecoins into local currency and bypassing traditional correspondent banking rails.