RedotPay is considering a confidential filing for a US IPO by year-end, Bloomberg reported, citing people familiar with the matter.

The Hong Kong-based company is in talks with investors on a possible pre-IPO round.

That round would value it at US$4 billion to US$5 billion, one of the people said.

The company has weighed the move for months while working through regulatory issues.

According to the people, plans are not final and the timing could change. RedotPay did not reply to requests for comment.

Filing this way lets a company get feedback from the US Securities and Exchange Commission before its IPO papers become public.

JPMorgan Chase, Goldman Sachs, Jefferies and Barclays are working with RedotPay on an IPO that would value it at US$5 billion or more, one person said.

Barclays’ role had not been reported before, and a bank spokesperson declined to comment.

RedotPay’s physical and virtual cards let customers pay with cryptocurrency.

Much of its business is built on stablecoins, which usually track a currency such as the US dollar.

One source said the company has more than 9 million customers and 280 staff worldwide.

Its run-rate revenue reached US$100 million within 18 months of launch, the same source said. The figure has since risen above US$180 million.

Sources said revenue for the first three quarters of 2026 grew more than 50% year on year. They added that the operating profit margin rose above 50%.

Earlier reports said the RedotPay IPO had been delayed by regulatory and legal issues.

RedotPay has been working to resolve them before listing, the people said.

Featured image: Edited by Fintech News Hong Kong, based on image by jcomp via Magnific.