RedotPay Completes Financial Audit Amid Delays for US IPO

RedotPay, the Hong Kong-based fintech company behind stablecoin-powered payments, has completed its financial audit and is pushing forward with plans for a US initial public offering (IPO) despite delays. The listing, initially slated for 2026, is now expected to take place in 2027.

The company's pursuit of a $1 billion raise at a valuation exceeding $4 billion has been hindered by regulatory approvals and ongoing litigation. RedotPay is dealing with a $473 million lawsuit from Binance-affiliated entities alleging user poaching. The firm has dismissed the claims as baseless, stating they do not affect its day-to-day operations.

Despite these challenges, RedotPay has made significant progress, securing a US money transmitter license in August 2026 and achieving unicorn status after raising $194 million from investors including Coinbase Ventures and Circle Ventures. The firm boasts 8.5 million users as of Q2 2026, with annualized revenue reaching approximately $180 million and payment volumes ranging between $10 billion to $12 billion.

RedotPay's core product enables users to spend stablecoins at traditional merchant terminals, bridging the gap between digital assets and everyday commerce. The company claims to be the largest issuer of stablecoin payment cards globally, with a growth trajectory that supports its ambitious plans for expansion.