Svmuu News Hong Kong stablecoin payment company RedotPay has responded to recent rumors of executive departures and financing, stating that the company is in a transition phase from an early-stage startup to a unicorn. The related team adjustments aim to optimize the organizational structure to support sustained growth and are not the personnel turmoil suggested by external reports.
Previously, reports indicated that during RedotPay's exploration of raising up to $150 million in financing, at least five senior employees left within a year, including two compliance heads. RedotPay did not directly address this but confirmed that all co-founders, including CEO Michael Gao, remain in their positions.
Regarding financing, RedotPay stated that its current operational cash flow is ample, and there is no urgent need for financing, but it remains open to external investors. The company completed three rounds of financing in 2025, raising a cumulative $194 million from investors including Lightspeed, Coinbase Ventures, Pantera Capital, Blockchain Capital, and Circle Ventures. (Cointelegraph)