Crypto
RedotPay Postpones $1 Billion US Listing Amid Binance Lawsuit
RedotPay, a payments firm that claims to issue more stablecoin cards than any other company in the world, has put its planned $1 billion U.S. listing on hold until at least 2027 due to legal issues.
The decision comes after RedotPay obtained a money transmitter license in the U.S., which allows the company to operate in the country, but this does not resolve the ongoing lawsuit with Binance over alleged user poaching.
Binance has lodged a $470 million suit against RedotPay in Hong Kong, claiming it siphoned off roughly 470,000 users during a period when the two companies had an agreement in force. The exchange has also brought a parallel case in Singapore.