RedotPay Co-Founder Speaks on Stablecoin Payments and Global Expansion

Preface

In an exclusive interview, we spoke with Jonathan Chan. He is the Co-Founder and Head of Partnerships at RedotPay. He told BlockchainReporter that the firm has one main goal. It wants to make stablecoins easy to use for everyday payments. It also wants to link crypto with traditional finance (TradFi), such as banks and cards.

Stablecoins are crypto tokens that try to keep a steady value. Most track the US dollar. Our guide to the GENIUS Act, the US stablecoin law, explains how they are regulated in the United States.

RedotPay was founded in 2023. It aims to make it simple to spend crypto. It offers three main products:

• Crypto cards that run on stablecoins
• Wallets that hold many currencies
• Money transfers between countries

Chan, who goes by JC, said RedotPay wants more people to get access to digital payments. He talked most about users in emerging markets, where banks are often hard to reach.

He also spoke about rules, audits and partners. In his view, these build trust and help a firm grow in a lasting way. The talk also covered RedotPay’s global network, its plans for new licenses and its new products.

Main takeaways

• RedotPay wants crypto to be as easy to spend as cash.
• It says its card works at over 130 million shops in more than 100 countries.
• It says it has over 9 million users.
• A Big Four firm gave it a clean audit.
• It sees rules and licenses as the base for growth.
• Next, it plans to get more licenses and launch new products.

Key terms used in this interview

• Stablecoin: a crypto token that aims to keep a steady price, usually $1.
• Crypto card: a debit card that lets you pay in shops with crypto. The coins are turned into local money at the till.
• Multi-currency wallet: an app that holds crypto and normal money in one place.
• Remittance: money that workers send home to family in another country.
• KYC: short for “know your customer.” It means checking who a user is before they can use the service.
• AML/CFT: rules to stop money laundering and the funding of terrorism.
• Big Four: the four largest accounting firms in the world.
• Clean audit: an audit where the outside firm finds no major problems in the accounts.
• Product-market fit: when a product meets a real need and people want to use it.
• Licensing: getting legal approval from regulators to offer a financial service in a country.

Interview Section

As the Co-Founder, what inspired you to launch RedotPay in 2023 with a focus on making stablecoins practical for everyday payments?

In 2023, the benefits of blockchain technology and digital assets were clear. However, the industry still lacked an important element: a practical way to spend crypto in the real world.

My co-founders and I started RedotPay with a clear goal: to empower users to spend their crypto whenever and wherever they want. We envisioned a reality where people could spend crypto through card transactions just as they spend any local currency.

Practicality also supports financial inclusion, which is one of our core missions at RedotPay. By offering stablecoin-based payments across borders, we serve both underbanked people and crypto enthusiasts.

Our rigorous regulatory and compliance efforts make this possible. By attaining the right licenses, we provide reliable, compliant access to stablecoin liquidity for those who need it most.

How does the stablecoin-based card and all-in-one app of RedotPay bridge the gap between crypto holdings and real-world spending at millions of global merchants?

The RedotPay card is designed for use at merchants around the world that accept payments through major card networks. Customers can go to a store, tap their card, and pay for goods using stablecoins.

The goal is to let customers use their digital assets for everyday purchases, whether they are buying coffee, groceries, or a Netflix subscription.

This requires a range of payment services. RedotPay enables users to hold crypto, make international and domestic transfers, and swap currencies instantly.

Which features of RedotPay play a significant role in ensuring a complete financial experience for users?

We emphasize three key features.

First, our stablecoin-powered card can be used across more than 130 million merchants in 100+ countries. Users can pay for everyday goods, from small purchases such as coffee to larger expenses such as flight tickets.

RedotPay also offers a multi-currency wallet that lets users hold crypto and local currencies in one place. Users can send money to friends in whatever currency they hold, and recipients receive it in their local currency.

Overseas workers can send money home through a faster, cheaper route. We handle the currency conversions and settlement under the hood.

Perhaps most importantly, we provide a transparent and trustworthy platform where users can feel secure. Our compliance-first approach ensures that we conduct due diligence and follow stringent regulatory compliance controls.

RedotPay recently received a clean (unqualified) independent financial audit from a Big Four firm for its consolidated statements. How important is this milestone for building long-term trust with users and partners?

An independent audit helps show that our company’s financial position is supported by appropriate reporting and external reviews. It is one of the most established forms of independent scrutiny in the financial world.

An independent third party examined our financial records, supporting documentation, accounting policies, and financial reporting processes. This demonstrates our accountability and gives users and partners confidence that they are using or working with a financially stable and credible platform.

With an earlier independent AML/CFT review, how does RedotPay ensure compliance and rigorous financial governance support in its global expansion plans?

We view a regulation and compliance-first approach as crucial to achieving sustainable growth in key markets.

We operate under a robust compliance framework that includes comprehensive KYC procedures, end-to-end transaction monitoring, and independent audits by third parties. Since our founding, RedotPay has completed annual financial audits and reviews of our AML/CFT controls.

We believe that investing in regulatory compliance and maintaining close relationships with global authorities are the most effective ways to protect users and preserve the integrity of the digital asset ecosystem. Using this approach to guide our global expansion plans is critical to gaining regulatory trust and achieving user inclusivity.

With millions of global users and significant payment volume, what strategies have driven RedotPay’s rapid adoption in financial markets?

I would boil it down to two things: product-market fit and a deep understanding of customer needs.

RedotPay was one of the first stablecoin-focused payment companies and holds the largest market share in our category to date. We identified and understood the problem quickly, supported by a compliance-first approach that grounds our business’s sustainability.

With a mission of financial inclusivity, we had to understand both non-crypto users and crypto-natives. This includes people in emerging markets whose savings are eroded by local currency inflation, individuals sending remittances with heavy fees and delays, and communities with limited local banking options.

Our entire product suite is dedicated to making customers’ lives easier, and we believe that finding this fit accelerated our expansion.

How do strategic partnerships contribute to RedotPay’s ability to scale its card program and payment infrastructure at an international level?

Our mission to achieve financial inclusivity applies not only to our users but also to the entire digital asset ecosystem. That means collaborating with reputable partners in the payments and digital asset space.

These collaborations give us access to new resources and knowledge in areas such as security, risk management, and AI. We also work with other payments companies to provide interconnected payment infrastructure for our users.

What makes RedotPay special and differentiates it from other crypto cards and payment platforms in terms of accessibility, security, and everyday utility?

Licensing and compliance are the foundation of accessibility, security, and everyday utility. Attaining the right licenses provides reliable, affordable access to reputable, regulated stablecoin liquidity.

With our licensed presence, we can reach the people who need these services most, including those in places where traditional banking infrastructure has not met their needs.

As RedotPay continues securing licenses and prepares for potential further growth, what are the key priorities for the next phase of development?

We have the largest and most diverse user base in the stablecoin payments sector, with over 9 million users and counting. This position carries the responsibility to provide regulated and responsible services to our users, many of whom depend on us for access to different payment methods and USD exposure.

Our next phase of development will focus on our licensing roadmap and product development. Expect to hear a lot more from us in the coming months!

Looking forward, what is your vision for RedotPay’s role in making digital finance more accessible, secure, and efficient for people around the world?

We envision RedotPay as a bridge between everyday consumers and compliant crypto liquidity. Users will view RedotPay like any other financial application without needing to know how stablecoins work.

By continuing to build on regulatory compliance and product-market fit, we aim to reach the billions of people who still pay too much or wait too long to move and spend their money. By making crypto more accessible, secure, and efficient, we hope to help scale mainstream adoption and move crypto beyond the silo it has occupied for years.

Concluding Remarks

Our exclusive talk with Jonathan Chan shows how stablecoins could bring crypto into everyday spending. RedotPay puts cards, wallets and money transfers in one app. Its aim is to make digital assets easy to use for normal people.

It also targets three common problems:

• High fees for sending money abroad
• Limited access to banks
• Slow and costly international payments

RedotPay’s work on licenses and new products will be key to reaching more users. It will also help the firm hold its lead in stablecoin payments. Its goal is to make spending and sending crypto as easy as using a normal banking app. If you are new to holding crypto, our guide on what a crypto wallet is is a good place to start.

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