Crypto payment company RedotPay is considering secretly filing a US IPO application before year-end, with a valuation that could reach $5 billion.

on October 27, Bloomberg cited sources familiar with the matter stating that Hong Kong-based crypto payment company RedotPay is considering secretly submitting an initial public offering (IPO) application to U.S. regulators by the end of 2026, following months of discussions regarding its listing plans and related regulatory challenges.

Sources familiar with the matter revealed that RedotPay is also still in talks with investors for pre-IPO financing, targeting a valuation of $4 billion to $5 billion. The company primarily provides physical and virtual card services that support cryptocurrency transactions.

The aforementioned plans are still under discussion, and RedotPay has not yet officially confirmed the IPO application timeline or final financing arrangements.