RedotPay Delays US IPO Plans Amid Binance Lawsuit and Regulatory Review

Hong Kong based stablecoin payment firm RedotPay has pushed back its planned US stock market listing as it works through regulatory approvals and faces mounting legal trouble, according to a Bloomberg report citing sources close to the matter.

Company Confirms US Money Transmitter License

While RedotPay declined to discuss IPO timing, it confirmed obtaining a US money transmitter license this week, part of its broader push to launch operations in the American market.

Binance Lawsuit Adds Pressure

The delay comes as Binance affiliates pursue a nearly $473 million lawsuit against RedotPay’s founders, alleging they used insider knowledge to redirect Binance customers to their new venture. RedotPay has denied the claims and says it will fight them in court. A related dispute is also unfolding in Singapore.

Backed by Major Banks

RedotPay had been working with JPMorgan, Goldman Sachs, and Jefferies on a listing that could raise over $1 billion at a $4 billion-plus valuation, alongside separate talks for $150 million in fresh funding.