What to know:
- RedotPay delays its US IPO beyond 2026 as ongoing regulatory and legal hurdles persist.
- Binance-linked entities seek nearly $473M in damages via an ongoing Hong Kong lawsuit.
- RedotPay secured a US money transmitter license and reported 8.5 million total users.
RedotPay has delayed its planned US initial public offering beyond 2026 amid regulatory reviews and legal disputes. The Hong Kong stablecoin payments company may list in 2027 or later. It has not announced a revised timetable.
The firm had considered completing the share sale this year. Bloomberg reported that regulatory requirements and continuing litigation had affected the schedule. It offered no revised date when asked about the delayed listing.
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Why RedotPay Delayed Its $1B US IPO
The proposed offering was expected to raise more than $1 billion. The business sought a valuation above $4 billion. JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group have advised the company on the potential listing.
RedotPay said its present focus remained on global regulatory compliance. It also named business expansion and preparations for its US market entry as priorities. The company continues to seek approvals needed for that launch.
The IPO delay comes as Binance-linked entities pursue nearly $473 million in damages. Their Hong Kong lawsuit targets the founders and was filed in August. The legal action remains before the Hong Kong court.
The plaintiffs allege that the founders used confidential information from their former work at Binance. They say that information helped them build a competing payments business. The filing describes the resulting service as a direct competitor.
What Binance Alleges About 470,000 Card Users
The lawsuit further claims that over 470,000 Binance Card users were redirected to RedotPay’s card service. The company disputes that allegation. The court has not made a final decision on the case.
The dispute also extends to Singapore through a separate related case. RedotPay claimed it expected Binance to abandon its legal case against it. Binance disputed the company’s statement, arguing that its claims are still valid.
RedotPay said that the company received a US money transmitter license this week. The license helps with the preparations to launch its products in the country. The company seeks to receive regulatory approvals despite the reported delay in IPO.
RedotPay Growth Continues Despite IPO Delay
The fintech payments firm was founded in 2023 and reached unicorn status in September 2025. For Q2 2026, it registered 8.5 million total users. The annualized revenue of the company amounted to $180 million.
Moreover, the firm considered raising up to $150 million in private funding. The fundraising round is expected to be conducted separately from its planned initial public offering. Such plans come amid the restructuring process and future expansion of the company.
The management said that the number of users, revenue, earnings, and profit margins have recently set new records. However, the company’s planned IPO has been delayed past 2026. RedotPay has not announced a new date for its US IPO.
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