The Hong Kong Crypto Payment Payment Payment Redotpay closed a $ 40 million series of a round of funding led by LightSpeed, with participation from HSG and Galaxy Ventures.
Redotpay aims to enable the use of cryptocurrency in sun -day -day transactions while simplifying blockchain transactions for those who spend, similar to Fiat. In November 2023, the company launched Own physical visa cards, which can be used for removing ATM cash, along with a virtual card that supports digital payment services such as Apple Pay and Google Pay.
The company has expanded Blockchain integrations, adding Solana In December 2024 and Ethereum Layer 2 Arbitrator In February. In addition, this Collaborated Straitx and Visa are included to support crypto retail payments in Singapore.
However, the redotpay appears that there are restrictions on the cross-border service. Visitors outside of Hong Kong are congratulated by a warning when accessing the company’s website.
The redotpay appears that there are restrictions on the cross-border service. Visitors out of Hong Kong origin: Redotpay
Crypto payment options rising in Asia, with stablecoins ahead
Direct cryptocurrency payment solutions get traction throughout Asia. In November 2024, Singapore based on Crypto.com’s Digital Asset Trading Platform Collaborated In triple-A to enable direct crypto payments, the need to convert crypto to FIAT has been removed.
Hong Kong has a part of competitors. Infini, a Crypto-dedicated firm focused on Stablecoin, offers payment services while earning yields. However, a $ 50 million exploitation in the USDC, which is said to have been lying to a Rogue developer who exchanged USDC for DAI -a decentralized stablecoin who could not be frozen like its centralized counterparts.
Related: Infini lost $ 50m; suspected developer’s deception
Unlike Pabagu -Chaptocurrencies’s Chaptocurrencies like Bitcoin (Btc) or ether (Eth), Stablecoins can offer a more consistent option to handle for those who want to use them for payments, as the owners are designed to maintain a value that is in their FIAT counterparts.
Japan, Asia’s second largest economy through the Gross Domestic Product, is taking significant steps in the stablecoin adoption. A recent Tokyo report based on research and consulting firm Yuri Group Shared with cointelegraph magazine It suggests that the Japanese government viewed Stablecoins as a potential catalyst to unlock $ 14 trillion in household savings.
Japan’s digital assets have resurrected behind the established financial institutions. Source: Yuri Group
The Yuri Group featured Progmat as a major player in Japan’s digital asset ecosystem. Backed by the country’s largest bank, Mitsubishi UFJ Progmat operates in compliance with the strict framework of Japan’s regulation, which regulates a support of 1: 1. It ensures that Japan’s established financial institutions remain before the management of digital assets.
In contrast, China, Asia’s largest economy, forbids cryptocurrency trading and recognizes Renminbi as a single legal soft country.
Magazine: How do Chinese traders and miners miss
