RedotPay US IPO delayed amid regulatory, legal hurdles: Report
RedotPay has reportedly delayed plans for a US IPO as it expands into the US and works through regulatory approvals and legal disputes. The Hong Kong-based stablecoin payments company said it recently obtained a US money transmitter license and is preparing to launch there. Bloomberg reported the IPO pause comes amid a nearly $473 million lawsuit from Binance affiliates. The suit alleges RedotPay’s founders diverted Binance customers and used confidential information from prior work at Binance to build a competing business. RedotPay denies the claims and says it will defend them. Founded in 2023, RedotPay had previously been linked to a potential New York listing, with reports of a possible $1 billion-plus raise and a valuation above $4 billion. The company is also said to be seeking additional funding as it expands its regulatory footprint.
