RedotPay IPO Delayed to 2027 Amid Binance-Linked Lawsuit

RedotPay's plans for a U.S. IPO have hit a roadblock due to a Binance-related lawsuit seeking nearly $473 million from its founders.

The lawsuit, filed by Binance-linked entities in Hong Kong and Singapore, alleges that RedotPay improperly diverted over 470,000 Binance Card users to its own card product.

RedotPay had previously signaled an IPO as the next step after building a large card user base, but the delay to 2027 or later changes the company's capital roadmap and forces it to rely on private capital or operating cash flow longer than planned.

The IPO delay is partly due to regulatory approval and the need for RedotPay to explain its customer acquisition history, not just its revenue trajectory.