RedotPay Expands Fiat-to-Stablecoin Access in UK and EU
RedotPay, a leading crypto payments fintech, has launched instant fiat-to-stablecoin conversions for users in the United Kingdom and the European Union. Starting July 6, verified users can deposit Euro (EUR) and British Pound (GBP) into RedotPay’s Multi-Currency Wallet and convert them instantly into stablecoins.
The update follows RedotPay’s $40 million Series A funding earlier this year. Launched in 2023, the platform now serves over 5 million users worldwide.
The new fiat deposit option offers faster processing, lower costs, and improved safety compared to offline OTC stablecoin purchases. Users can now send globally using stablecoin-based rails. At present, RedotPay enables instant payouts in Brazilian Real (BRL) directly to recipient bank accounts.
Michael Gao, CEO and Co-Founder of RedotPay, stated that the feature directly addresses user concerns about high fees, slow transactions, and fraud risks. “We aim to make stablecoin payments as simple and safe as traditional money,” Gao said.
To use the service, users must complete identity verification and a risk assessment. Accounts are limited to one currency, EUR or GBP, and deposits must come from supported regions matching government-issued identification.
RedotPay has also added in-app safeguards to prevent scams and enhance security. These measures align with its commitment to compliance and user protection.
The feature is now live for verified users, with select countries enjoying zero-fee account opening for a limited time. This marks the first stage of a wider rollout planned for other regions. RedotPay continues to support financial inclusion, simplify crypto payments, and expand stablecoin adoption. The service works with over 130 million merchants and supports Apple Pay and Google Pay.
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News Source: Globenewswire.com
