RedotPay Postpones US IPO Amid Regulatory Hurdles and Binance Lawsuit

RedotPay has delayed its initial public offering (IPO) in the US market as it seeks to secure regulatory approvals for its expansion into the country. The digital-asset card company had been planning to list on the New York stock exchange since February, aiming to raise over $1 billion at a valuation of above $4 billion.

RedotPay has obtained a money transmitter license this week and is preparing to launch services in the US after meeting regulatory requirements. The company's focus on global regulatory compliance and business growth may have contributed to the delay in its IPO plans.

Additionally, RedotPay is facing a damages lawsuit from Binance affiliates seeking around $473 million. The company has denied the allegations, stating it will respond aggressively. This legal dispute may be weighing on the listing as well.