Binance Holds Firm in Singapore Court Fight Over $473 Million RedotPay Claim

The two companies were not always adversaries. RedotPay announced a partnership with Binance Pay in December 2023, using the integration to boost its card services. By April 3, 2026, Binance had ended that integration entirely, citing a review of its merchant collaborations. The termination came months before the lawsuits became public.

The core accusation is user diversion. The Binance-linked plaintiffs argue that RedotPay's co-founders actively redirected Binance Card users toward RedotPay's own stablecoin card top-up service, using Binance Pay funds in a way that allegedly broke the commercial agreement. The $925-per-user lifetime value figure is how the plaintiffs arrived at their damages estimate.

Running parallel legal proceedings in Hong Kong and Singapore adds procedural complexity – different courts, different rules, different timelines. Binance's decision to keep the Singapore case alive, rather than consolidate everything in Hong Kong, keeps pressure on RedotPay across multiple fronts simultaneously. Legal costs alone could be punishing for a smaller company.

RedotPay's plan to seek legal costs from the Singapore hearing is the most assertive move it can make right now. A win on costs in Singapore would not resolve the Hong Kong case, a RedotPay spokesperson acknowledged. The Hong Kong proceedings carry the real financial stakes.

No resolution looks close. The August 7 Singapore hearing came and went without the dismissal RedotPay expected. Next steps in both Hong Kong and Singapore remain unspecified in court filings reviewed so far.