Binance and RedotPay Clash Over Singapore Lawsuit
Binance and RedotPay are embroiled in a dispute over the fate of a lawsuit in Singapore, which is part of a broader legal battle between the two companies.
The Singapore case is related to their Hong Kong lawsuit, where Binance-affiliated companies are seeking nearly $473 million in damages from RedotPay's co-founders. The plaintiffs claim that RedotPay diverted over 470,000 Binance Card users by allowing them to use Binance Pay funds for stablecoin card top-ups outside the terms of a commercial agreement.
RedotPay expects Binance to discontinue the Singapore proceedings following a hearing on August 7. However, Binance has denied these claims, stating that it has no plans to abandon its claims in Singapore and has informed both the court and RedotPay accordingly.