RedotPay Consolidates Teams After Report of Executive Turnover

RedotPay, a Hong Kong-based stablecoin payments company, said it has consolidated teams to boost efficiency as it scales. The move comes after a Bloomberg report that claimed leadership churn and sensitivities tied to the company’s mainland China connections while it explores raising up to $150 million.

Bloomberg said at least five senior hires left within a year, including two compliance chiefs, and described a demanding culture with extended hours. The outlet also reported that RedotPay has been weighing a US IPO that could raise over $1 billion and value the company at more than $4 billion, and that it has been working with JPMorgan, Goldman Sachs and Jefferies.

Hong Kong, mainland China

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