RedotPay
Key Data
- Trading Name:
- Legal Entity: Red Dot Technology Limited/Red Dot Trust Limited/RedotX (Tango) Limited/Red F. Technology Limited
- Activities: Cryptocurrency Payment Solutions
- Location: Hong Kong
- Regulations: regulated VASP, licensed by Lithuania’s FCIS
- Key People: Michael Gao and Jonathan Chan
RedotPay is a Hong Kong-based financial technology company specializing in cryptocurrency payment solutions.
Offerings
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Crypto Payment Cards: RedotPay offers both virtual and physical cryptocurrency payment cards, enabling users to spend their digital assets like traditional fiat currencies. These cards support instant transactions and are compatible with Apple Pay and Google Pay.
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Global Acceptance: The RedotPay crypto card is accepted by over 130 million merchants worldwide, including major brands like McDonald’s, Amazon, and Uber, providing a seamless blockchain payment experience.
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Secure Custodian Services: The company offers secure custodian services with a licensed trust company, providing USD 42 million in insurance coverage to protect users’ digital assets.
Partnerships
RedotPay collaborates with several industry-leading companies to enhance its services:
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Binance: A major cryptocurrency exchange.
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Chainalysis: A blockchain data platform.
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Circle: The issuer of the USDC stablecoin.
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Fireblocks: A digital asset security platform.
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OKLink: A blockchain technology company.
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London Stock Exchange Group (LSEG): A global financial markets infrastructure provider.
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Elliptic: A blockchain analytics firm.
Regulation
RedotPay is a regulated Virtual Asset Service Provider (VASP), licensed by Lithuania’s Financial Crime Investigation Service (FCIS) in August 2024. This allows it to offer virtual currency exchange and custodial wallet services while ensuring compliance with KYC/AML regulations (source).
Serving Industries
RedotPay serves over 3.5 million users in 100+ countries, focusing on crypto enthusiasts, the unbanked, and international travelers. Its crypto payment cards enable seamless spending at 130M+ merchants worldwide, promoting financial inclusion and cross-border transactions
Key People
Michael Gao is the co-founder and CEO of RedotPay, a Hong Kong-based crypto payment platform established in April 2023. Under his leadership, the company has rapidly grown, securing a $40 million Series A funding round in March 2025 to enhance its global crypto payment solutions.
Jonathan Chan is the co-founder of RedotPay, a Hong Kong-based crypto payment platform established in April 2023.While specific details about his professional background are limited, his role in co-founding RedotPay highlights his involvement in advancing global crypto adoption through innovative payment solutions.
Compliance Check
RedotPay ensures strict KYC and AML compliance, requiring identity verification and leveraging LSEG’s World-Check Intelligence for risk screening (source). While praised for low fees and ease of use, some users report account and support issues, highlighting mixed reviews (source).
Customer Review
- Trustpilot: 3,6 Stars with 300+ Reviews
Conclusion & Rating:
RedotPay is a rapidly growing crypto payment provider with strong regulatory compliance, holding a VASP license in Lithuania and integrating robust KYC/AML measures. Its partnerships with major players like Binance and LSEG enhance its credibility. However, mixed user reviews regarding customer support and account issues suggest areas for improvement.
Traffic Light Rating: 🟢 Regulation & Compliance – Strong regulatory framework and AML/KYC measures
🟡 User Experience & Support – Mixed reviews; praised for usability but criticized for support
🟢 Innovation & Partnerships – Solid industry collaborations and expanding services
Overall: RedotPay is a promising fintech with a solid compliance structure, but users should be mindful of potential support challenges before committing.
