RedotPay Mulls Secretive US IPO Filing by Year-End—What’s Driving the Sudden Move?

Hong Kong’s RedotPay is charging ahead, or so it seems, as whispers swirl about a hush-hush U.S. IPO filing slated for the end of 2026. Now, here’s the kicker—this comes barely two months post whispers of a delay, tangled up in regulatory webs and legal showdowns. Isn’t it a bit like watching a high-stakes poker game where the chips keep moving faster than the eye can follow? With a hefty potential valuation floating around $4 to $5 billion and a user base tipping over 8 million, RedotPay’s push into the American market carries a thrum of ambition shadowed by controversy—namely their courtroom dance with Binance and a massive $473 million lawsuit. Are we looking at a groundbreaking disruptor or a drama poised to redefine the stablecoin narrative? Let’s dig a bit deeper. LEARN MORE.

Hong Kong-based stablecoin payments company RedotPay is reportedly considering a confidential filing for a US initial public offering by the end of 2026, two months after reports that it had delayed its listing plans amid regulatory and legal hurdles.

RedotPay is also in talks with investors about a potential pre-IPO funding round that could value the company at between $4 billion and $5 billion, Bloomberg reported Monday, citing people familiar with the matter.

RedotPay says it has more than 8 million users, while data from Paymentscan shows $410.5 million in 30-day stablecoin card transaction volume.

The company was first reported in February exploring a New York listing that could raise more than $1 billion at a valuation exceeding $4 billion, with JPMorgan Chase, Goldman Sachs and Jefferies reportedly working on the offering.

However, Bloomberg reported in August that RedotPay had delayed its US listing plans amid regulatory hurdles and legal disputes involving Binance.

The company subsequently disputed that characterization, reportedly saying “there has been no deferral of our IPO,” and that the company is “continuing to work with our partners on the IPO process.”

In August, Binance-affiliated companies sued the founders of RedotPay, seeking nearly $473 million in damages over allegations that they used confidential information to build a competing payments business and divert customers.

RedotPay has denied the allegations and previously told Cointelegraph that it would “vigorously defend all claims.”