Spend crypto like fiat

As crypto ownership exceeds 580 million globally, RedotPay emerges with the aim of streamlining digital asset transactions by integrating blockchain technology into everyday financial activities.

Global cryptocurrency ownership has soared beyond 580 million individuals, and the future of digital payments is poised for a transformative shift. With 80% of central banks worldwide delving into digital currencies, the integration of blockchain and crypto into everyday transactions is becoming increasingly imminent.

This shift is further underscored by the demographic driving its adoption; 69.8% of crypto-consumers are under 35, highlighting a generational pivot toward digital finance. Moreover, 57.2% of crypto consumers perceive crypto payments as superior to traditional methods.

The growing preference signals a significant change in how transactions will be conducted, paving the way for innovative solutions that cater to this emerging demand and shape tomorrow’s financial landscape.

Crypto payments meet daily life

Established in Hong Kong, RedotPay is a crypto payment solutions company focused on building an all-in-one digital asset payment infrastructure through blockchain technology. The project’s mission is to facilitate the broader adoption of digital assets, aiming to improve financial inclusion and create economic opportunities within the realm of digital currencies.

RedotPay enables users to spend crypto like fiat. Source: RedotPay

RedotPay introduced a comprehensive crypto payment platform allowing direct integration with decentralized applications (DApps). An upcoming feature of the crypto payment platform is the ability for users to link their DApp wallets to a RedotPay Card. 

This connection enables users to conduct deposit-free transactions using crypto. RedotPay Card users can withdraw local currencies from ATMs worldwide and directly swipe the card at merchant locations. Illustrating the extent of its potential reach, the RedotPay Card is accepted by over 44 million merchants worldwide.

Featuring user-friendly payment processes, RedotPay eliminates the necessity for fiat conversion before transactions, allowing users to pay directly with their crypto. Additionally, the platform boasts compatibility with major payment services, including PayPal, AliPay, Apple Pay and Google Pay, offering users the convenience of contactless mobile payments.

RedotPay announced a partnership with Binance Pay in December 2023, the crypto payment arm of the global crypto trading platform Binance. Through this collaboration, Binance Pay users will be able to make direct deposits to their RedotPay cards.

The mini program facilitating the connection to RedotPay is accessible within the Binance app, offering a streamlined process for users looking to leverage their crypto for regular purchases. Regarding the partnership, RedotPay CEO and co-founder Michael Gao said:

“We are delighted to work together with Binance to offer Binance users an extra option to expand their usage of their digital assets with the RedotPay card. We are looking to partner with more renowned exchanges in the future.” 

Security and compliance at the forefront

RedotPay adheres to rigorous Know Your Customer (KYC) and Know Your Transaction (KYT) policies to safeguard users and merchants.

Regarding asset security, RedotPay has partnered with a licensed Hong Kong Trust Company, backed by 50 million insurance from OneDegree, to protect client assets. The company also employs high-security measures for storing private keys in hardware security modules (HSMs) with FIPS 140-2 Level 3 standards.

The RedotPay Card is accepted by over 44 million merchants worldwide. Source: RedotPay

In September 2023, RedotPay concluded its seed round of fundraising, achieving a company valuation of $60 million and raising $3 million when the product was just introduced to the market. Building on this momentum, RedotPay is preparing to initiate its Series A fundraising efforts with PWC as the financial adviser. The company aims to secure an additional $10-20 million, projecting a valuation of $200 million for this next phase.

RedotPay CEO expressed strong confidence in the growing utility of digital assets, stating:

“According to recent research, there are more than 580 million crypto holders. Right now, only a small portion of them actively utilize their crypto. By continuing to expand and enhance the features of our solution, we will be able to significantly increase the financial inclusion and utility of cryptocurrencies.”

The crypto payment provider will be attending Token2049 Dubai as a Silver Sponsor on April 18-19, offering participants free virtual cards.

The intersection of burgeoning global cryptocurrency ownership accelerated by among younger demographics and the innovative strides made by companies like RedotPay underscores a clear trajectory toward a digital-first financial ecosystem. Combining user-centric features with a commitment to security and compliance enables innovative payment providers such as RedotPay to pave the way for the future of financial transactions.

Learn more about RedotPay.