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Binance and RedotPay Clash Over Fate of Singapore Lawsuit

Guavy AI Editorial Team
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Binance and RedotPay are locked in a dispute over the fate of a Singapore lawsuit related to their Hong Kong legal battle, which is seeking nearly $473 million in damages.

RedotPay expects Binance to discontinue the Singapore proceedings following a hearing on August 7, after which it will seek legal costs from Binance. However, Binance says it has no plans to abandon its claims and has informed both the court and RedotPay accordingly.

The disagreement marks the latest development in a broader legal fight between Binance-affiliated companies and RedotPay. The Hong Kong plaintiffs allege that RedotPay diverted more than 470,000 Binance Card users by allowing Binance Pay funds to be used for stablecoin card top-ups outside the terms of a commercial agreement.

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