RedotPay has received its first US state-level money transmitter licence, advancing its planned expansion across the country.
The licence represents the crypto card and payments provider's initial regulatory approval at state level in the US. According to the company, applications for equivalent licences are currently pending in more than 20 additional states, as part of a broader effort to build the regulatory groundwork required to offer its services more widely across the country over time.
Regulatory approach and US entity
The licence has been issued to Red Dot Payment (US), LLC, the company's US entity. According to the announcement, this entity is in the process of preparing its operations and has not yet engaged in any money transmission activity. A company spokesperson described the approval as a milestone in the firm's US growth strategy, adding that the company intends to continue pursuing licensing on a state-by-state basis to support the use of stablecoins for everyday transactions.
Business scale and product offering
RedotPay states that more than eight million people worldwide currently use its app to spend, send, and manage cryptocurrency, up from six million users in November 2025. The company reports annualised revenue of USD 180 million and annualised payment volume of approximately USD 14 billion, figures which, according to RedotPay, reflect payments processed through its non-US regulated payment processors rather than through its US entity.
Beyond card payments, RedotPay's platform allows users to buy cryptocurrency, borrow against crypto holdings, and transfer funds to individuals or bank accounts within a single application.
Implications for the US market
Money transmitter licences are issued on a state-by-state basis in the US and are typically required before a company can legally offer services such as fund transfers, currency exchange, or stablecoin-based payments to consumers in a given state. Securing the first such licence, alongside pending applications in more than 20 other states, indicates an early stage in RedotPay's efforts to establish a compliant operational base for its stablecoin-related services in the US market. The pace and outcome of the remaining state applications will determine when, and how broadly, RedotPay's products become available to US-based users.
