RedotPay, the crypto payments fintech bridging digital assets and traditional finance, has launched a new feature that enables instant, fiat-to-stablecoin conversions for users in the United Kingdom and European Union.* Starting July 6, verified users can now deposit Euro (EUR) and British Pound (GBP) directly into RedotPay’s Multi-Currency Wallet and convert them instantly into stablecoin.
The rollout marks the next phase in RedotPay’s product roadmap following its $40 million Series A funding round earlier this year. Launched in 2023, the platform has already reached over 5 million users globally.
The fiat deposit feature enhances the user experience by offering a more cost-efficient alternative with faster processing time and a safer approach as compared to potential compliance risks associated with purchasing stablecoins through offline over-the-counter (OTC) shops. With the new update, users can now make direct fiat deposits and instantly convert them into stablecoins. Users can tap on the stablecoin-based rails to send globally. Currently, RedotPay users can pay out instantly into Brazilian Real (BRL) and deposit directly into the recipient’s Brazilian bank account.
Michael Gao, CEO and Co-Founder of RedotPay, said: “At RedotPay, we listen closely to what our users need and are focused on solving the real challenges they face when accessing digital finance. This instant fiat-to-stablecoin feature was launched in direct response to user feedback and the pain points many encounter with traditional onramps—high fees, slow processing, fraud risks, and complex procedures. We are committed to continuously improve our payment products and user experience so that everyone, not just crypto-natives, can easily access and enjoy the benefits of stablecoin-based payments. Our goal is to make digital assets as easy and safe to use as regular money, empowering more people to participate in the global economy with confidence and convenience.”
To access the feature, users must complete identity verification and a risk assessment questionnaire. Each account is tied to a single currency, either EUR or GBP. Deposits are only accepted from supported regions and must match the user’s government-issued identification.
RedotPay has also implemented new in-app safeguards to promote safe usage and protect users from common crypto scams. These measures reflect RedotPay’s commitment to maintain the highest standards of compliance and security standards by combining user-friendly functionality with strong compliance and security practices.
The new feature is now available to all verified RedotPay users, and users from selected countries can enjoy limited-time promotions like zero-fee account opening. This marks the first phase of a broader global rollout planned for additional regions in the coming months. The company continues to champion financial inclusion, simplify the use of crypto for everyday users, and support the broader adoption of secure, real-world digital asset use. RedotPay is accepted by more than 130 million merchants globally and is compatible with Apple and Google Pay.
*RedotPay is a fintech service provider and not a bank. Our Multi Currency Wallet is provided by appropriately licensed financial institutions and RedotPay only facilitates your use of such Multi Currency Wallet.