TL;DR:
RedotPay, the stablecoin payments company founded in 2023 and headquartered in Hong Kong, postponed its plans for a U.S. stock market listing while processing regulatory approvals and dealing with a multimillion-dollar lawsuit filed by affiliates of Binance, according to Bloomberg. A company representative declined to comment on the timeline of the process, though noted that the company obtained a money transmitter license in the country this week and is preparing to launch its products there.
The first signs of a possible listing in New York emerged in February 2026, when it became known that RedotPay was evaluating a debut on U.S. public markets. The company had reportedly been working with JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group on a deal that could raise more than $1 billion, with a target valuation exceeding $4 billion.
At the same time, the company reported negotiations to raise up to $150 million in a new funding round, amid significant internal organizational changes. “As we transition from an early-stage startup to a unicorn, we are evolving our organizational structure,” the company stated in March.
In early August, Binance affiliates filed a lawsuit in Hong Kong against the founders of RedotPay, claiming approximately $473 million in damages. The plaintiffs allege that the founders used confidential information obtained during their prior work with Binance to build a competing payments business and attract users from that platform. RedotPay rejected the charges and stated it would defend its position firmly.
The dispute also extended to Singapore, where both parties disagree on the status of a related case. RedotPay stated that it expected Binance to withdraw that claim, while the exchange denied that account and maintained that its claims remain active.
