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RedotPay Pushes Back U.S. IPO Plans Amid Binance Lawsuit

Guavy AI Editorial Team
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RedotPay's plans for a U.S. initial public offering (IPO) have been delayed until at least 2027, according to Bloomberg.

The company had previously aimed to raise over $1 billion in the deal, targeting a valuation of above $4 billion.

However, RedotPay is facing regulatory hurdles and legal issues, including a lawsuit from Binance-linked entities.

The plaintiffs are seeking nearly $473 million in damages, alleging that more than 470,000 Binance Card users were improperly diverted to RedotPay's card product.

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