RedotPay, a Hong Kong-based stablecoin payments company, has postponed its planned US initial public offering beyond 2026, with a potential listing now expected in 2027 or later. The delay is attributed to ongoing regulatory reviews and legal disputes, including a nearly $473 million damages lawsuit filed by Binance-linked entities in Hong Kong. The company had been advised by JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group on the IPO, which was expected to raise more than $1 billion at a valuation above $4 billion. Despite the setback, RedotPay recently secured a US money transmitter license and reported 8.5 million total users for Q2 2026.
RedotPay has delayed its planned US initial public offering beyond 2026 amid regulatory reviews and legal disputes. The Hong Kong stablecoin payments company may list in 2027 or later and has not announced a revised timetable.
The firm had considered completing the share sale this year. Bloomberg reported that regulatory requirements and continuing litigation had affected the schedule.
The proposed offering was expected to raise more than $1 billion with a valuation above $4 billion. JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group have advised the company on the potential listing.
RedotPay said its present focus remained on global regulatory compliance, business expansion, and US market entry preparations. The IPO delay comes as Binance-linked entities pursue nearly $473 million in damages through a Hong Kong lawsuit filed in August.
The plaintiffs allege that RedotPay’s founders used confidential information from their former work at Binance to build a competing payments business. The lawsuit further claims that over 470,000 Binance Card users were redirected to RedotPay’s card service.
RedotPay disputes that allegation. The court has not made a final decision on the case, which also extends to Singapore through a separate related matter.
RedotPay claimed it expected Binance to abandon its legal case against it. Binance disputed that statement, arguing its claims remain valid.
The company received a US money transmitter license this week to help launch its products in the country. RedotPay was founded in 2023 and reached unicorn status in September 2025.
For Q2 2026, it registered 8.5 million total users with annualized revenue of $180 million. The firm also considered raising up to $150 million in private funding separately from its planned IPO.
