Hong KongRedotPay is targeting a $5 billion US listing.

It’s heading for public markets with no US law yet governing how stablecoins work.

The Hong Kong firm, which lets users spend stablecoins via a linked Visa card, also passed a separate anti-money-laundering review.

“We undertook these audits to build confidence and trust in our financial reporting and compliance standards,” said Michael Gao, CEO.

RedotPay says it has 8.5 million users and is pressing ahead with its listing, with no timeline set.

How each outlet framed it
CoinDesk
emphasizes Big Four-audited compliance pathway (financial + AML/CFT) for stablecoin IPO targeting $5B+ valuation

Sources: CoinDesk