Ogier advises fintech unicorn RedotPay on US$47 million raise

Ogier's Technology and Web3 specialists in Hong Kong have advised stablecoin-based payments firm RedotPay on its US$47 million strategic investment round, which has elevated the company to fintech unicorn status.

RedotPay stated that the round, which included participation from Coinbase Ventures, Galaxy Ventures and Vertex Ventures, brings its valuation above US$1 billion.

Based in Hong Kong, RedotPay offers stablecoin-based cards, multi-currency wallets and global payout services. Since launching in 2023, RedotPay has reportedly reached more than five million users and processed US$10 billion in total payments.

The Ogier team was led by investment funds partner and digital assets expert Dennis Li, with support from partner Cecilia Li and legal manager Jasmine Chan. The team advised RedotPay on all British Virgin Islands legal aspects of the raise.

Dennis Li said: "Congratulations to RedotPay on this landmark raise, which underscores not just RedotPay's innovation in the digital payments sector but also the strength of Hong Kong as a hub for fintech growth.

"Drawing on multidisciplinary expertise, Ogier’s Technology and Web3 team is able to deliver practical solutions for clients operating at the forefront of financial technology."

Ogier’s dedicated Technology and Web3 team provides commercially focused legal solutions to clients innovating across the digital assets ecosystem. Our cross-jurisdictional expertise in fintech, blockchain and digital assets enables us to guide clients through complex regulatory challenges and provide practical advice to support business goals.