![\"RedotPay](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjYtMDMvMDE5ZDAwYTQtYjg0My03ZGZkLTk1NjgtNzU0MWUxMGYxZThiLmpwZw==.jpg\")
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RedotPay says it restructured teams for efficiency after a Bloomberg report flagged executive turnover, China sensitivities and new funding talks.<\/p>\n
Hong Kong-based stablecoin payments company RedotPay said it has \u201cconsolidated\u201d teams to improve efficiency as it scales, after a report claimed executive turnover and sensitivities tied to its mainland China connections.<\/p>\n
On Wednesday, a Bloomberg report claimed<\/a> RedotPay is facing leadership churn and sensitivities tied to China as it explores raising up to $150 million. Citing people familiar with the matter, the report said that at least five senior hires left the stablecoin company within a year, including two compliance chiefs, and described a demanding work culture with extended hours.<\/p>\n In February, Bloomberg reported that RedotPay is considering a US IPO<\/a> that could raise over $1 billion and value the company at more than $4 billion. The Hong Kong-based firm was reported to be working with JPMorgan, Goldman Sachs and Jefferies on a potential New York listing that could take place as early as this year.<\/p>\n