RedotPay, a Hong Kong-based stablecoin payments company, has postponed its planned U.S. initial public offering until 2027 or later, according to Bloomberg sources. The delay reflects ongoing regulatory approvals and legal disputes, including a lawsuit from Binance affiliates seeking nearly $473 million in damages.
The company had reportedly been considering a New York IPO that could raise more than $1 billion, valuing it at over $4 billion, with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group working on the proposed transaction. A listing had been considered possible during 2026.
Despite the delay, RedotPay said this week it secured a US money transmitter license and is preparing to launch its products in the country. A spokesperson told crypto.news: “Our strategy continues to focus on global regulatory compliance and business growth.” The company also reported record users, revenue, profit and margins for Q2 2026, without providing specific figures.
Founded in April 2023, RedotPay provides stablecoin-based payment services including crypto payment cards, multicurrency wallets and global payouts. By February it had more than 6 million users across over 100 markets and had raised $194 million in 2025, including a $107 million Series B led by Goodwater Capital, Pantera Capital and Blockchain Capital.
The Binance lawsuit claims RedotPay’s founders used confidential information obtained during previous employment with Binance to build a competing payments platform and move hundreds of thousands of Binance customers. RedotPay has rejected the allegations and said it will “vigorously defend all claims.”
