RedotPay's $1B US IPO Delayed Amid Binance-Linked Lawsuit

RedotPay has delayed its US initial public offering (IPO) beyond 2026 due to regulatory reviews and legal disputes. The Hong Kong-based stablecoin payments company had considered completing the share sale this year but will now list in 2027 or later, with no revised timetable announced.

The proposed IPO was expected to raise over $1 billion, valuing RedotPay at above $4 billion. JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group advised the company on the potential listing.

However, regulatory requirements and a Binance-linked lawsuit have affected the schedule. The plaintiffs, who are seeking nearly $473 million in damages, allege that RedotPay's founders used confidential information from their former work at Binance to build the competing payments business.