RedotPay
Hong Kong crypto-card leader: $2.95B card volume in 2025, more than 4x its next 13 competitors combined (CoinDesk/StraitsX).
Processed $2.95B card volume in 2025 — over 4x its next 13 competitors combined.
- Who holds it
- A licensed crypto-asset custodian holds the assets on your behalf — Hong Kong MSO, money lender + TCSP licenses; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada).
- The ledger
- The custodian’s books, reconciled against on-chain balances.
- If it fails
- Recovery hinges on the custodian’s solvency and how cleanly client assets are segregated.
Derived from RedotPay’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | hybrid |
| AI | banking for AI agents |
| HQ | Hong Kong, HK |
| Founded | 2023 |
| Custody | Custodial |
| Regulation type | VASP / MSB / crypto licenses |
| License detail | Hong Kong MSO, money lender + TCSP licenses; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada) |
| Card | Visa/MC · Prepaid |
| Cashback | Up to 1% |
| Stablecoins | Yes |
| KYC | Yes |
| Active regions | North America, Europe, Latin America, Africa, MENA, Asia, Oceania |
| Countries | Hong Kong, Singapore, Brazil, Argentina, Nigeria, Global |
| Founders | Michael Gao |
| Funding | ~$90M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @RedotPay ↗
Common questions about RedotPay
What is RedotPay?
RedotPay is a fiat-and-crypto neobank, headquartered in Hong Kong, HK and founded in 2023. Your money is held custodially, so RedotPay or its partner bank holds the balance and you hold a claim on it. It holds VASP / MSB / crypto licenses (Hong Kong MSO, money lender + TCSP licenses; VASP (RedotX UAB, Lithuania FCIS); MSB registrations (US/Canada)).
Does RedotPay have a card, and where can you use it?
It issues a Visa and Mastercard prepaid card. It is available in 6 countries, across all 7 world regions tracked here.
Does RedotPay require KYC?
Yes. RedotPay requires identity verification (KYC) to open an account, as a vasp / msb / crypto licenses.
What does RedotPay cost?
From the verified fields: cashback Up to 1%. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with RedotPay before relying on them.
Peers
Revolut · Cash App · Mercado Pago · Mogo · Venmo · Robinhood
RedotPay appears in
Neobanks operating under crypto and money-transmitter licenses (25) · Neobanks available in North America (126) · Neobanks available in Europe (144) · Neobanks available in Asia (132) · Neobanks available in Oceania (72) · Neobanks available in Latin America (113) · Neobanks available in Africa (92) · Neobanks available in MENA (85) · Neobanks that issue a Visa card (182) · Neobanks that issue a Mastercard (150)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.