Hong Kong-based RedotPay successfully completed a $40 million Series A funding round led by Lightspeed, with participation from HSG and Galaxy Ventures.
RedotPay's Funding Round
RedotPay aims to facilitate the use of cryptocurrencies in everyday transactions. In November 2023, the company launched physical Visa cards and virtual cards to support digital payment services like Apple Pay and Google Pay. By the end of 2024, the company had expanded its blockchain integrations to include Solana and Arbitrum.
Growth of Crypto Payments in Asia
Cryptocurrency payment solutions are gaining traction across Asia. In November 2024, Singapore-based platform Crypto.com partnered with Triple-A to enable direct crypto payments. In Hong Kong, competitors like Infini are also enhancing their services, focusing on stablecoins.
Stablecoins in Japan
Japan is making significant strides in stablecoin adoption, viewing them as a catalyst to unlock $14 trillion in household savings. Progmat, a key player in Japan’s digital asset ecosystem, operates under strict regulatory compliance.
The development of cryptocurrency payments in Asia is gaining momentum, highlighting the significance of such technologies for the future of the financial industry.
