RedotPay Weighs Confidential US IPO Filing by Year-End

Hong Kong-based stablecoin payments company RedotPay is considering submitting a confidential filing for a US initial public offering by the end of 2026 ¹. The firm is simultaneously engaging investors regarding a pre-IPO funding round that could value the company between $4 billion and $5 billion, according to people familiar with the matter cited by Bloomberg ¹.

RedotPay previously explored a New York listing in February that targeted raising more than $1 billion at a valuation exceeding $4 billion, with JPMorgan Chase, Goldman Sachs, and Jefferies reportedly advising on the transaction ¹. RedotPay reports possessing over 8 million users, while Paymentscan data indicates $410.5 million in 30-day stablecoin card transaction volume ¹. The fresh listing considerations emerge after reports in August indicated the firm had paused its listing efforts, an assertion RedotPay contested by stating no deferral had occurred and preparations with partners remained active ¹.

Litigation Headwinds

The revived public market plans follow a legal conflict that escalated in August, when Binance-affiliated entities filed a lawsuit against RedotPay's founders ¹. The complaint seeks nearly $473 million in damages, alleging that the founders leveraged confidential corporate data to build a rival payments enterprise and siphon clientele away from Binance ¹.

RedotPay has denied the allegations and indicated it plans to vigorously defend against the claims ¹. The litigation represents an unresolved liability as the company prepares its disclosures for US regulators ¹. At the time of writing, the broader digital asset market capitalization stands at $2.63 trillion, with $USDT trading at $0.9984.