RedotPay delays US IPO beyond 2026 after a $473M Binance-linked lawsuit. Regulatory approvals and legal disputes push the timeline, while the company secures a U.S. money transmitter licence.
RedotPay has pushed its planned U.S. IPO beyond 2026 as the stablecoin payments company contends with regulatory approvals and a nearly $473 million lawsuit filed by Binance-linked entities in Hong Kong.
The Hong Kong-based company had considered completing its stock market debut this year, Bloomberg reported. It now expects to postpone the listing until 2027 or later. The regulatory requirements and the legal dispute are among the factors affecting the timeline, the report said.
RedotPay had sought to raise more than $1 billion at a valuation exceeding $4 billion, according to Bloomberg. JPMorgan Chase and Goldman Sachs have been advising the company on the potential listing, the report said.
A RedotPay spokesperson declined to provide a revised IPO timetable. The company said its current priorities include global regulatory compliance and expanding its business for the U.S. market.
Binance-linked entities are seeking nearly $473 million in damages against RedotPay’s founders in a Hong Kong court. The lawsuit, filed in August, alleges that the founders used confidential information from their previous work with Binance to develop a competing payments business, according to the court filing. The plaintiffs also claim that more than 470,000 Binance Card customers were diverted to RedotPay’s card product.
RedotPay has rejected the accusations and said it plans to defend itself. “We will vigorously defend all claims,” the company said in a statement.
The dispute has also extended to Singapore. RedotPay said it expected Binance to discontinue a related case there. Binance disputed that statement and maintained that its claims remain active, the company said.
RedotPay said it obtained a U.S. money transmitter licence this week as it prepares to introduce its products in the country. The company continues to pursue regulatory approvals despite the reported change to its IPO schedule.
Founded in 2023, RedotPay reached unicorn status in September 2025. The company reported 8.5 million users during the second quarter of 2026, while annualized revenue reached about $180 million.
RedotPay has also discussed raising up to $150 million in private funding, separate from the IPO, the company said. The company said its user numbers, revenue, profit and profit margins recently reached record levels. RedotPay has not announced a new firm date for its U.S. IPO.
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