--- title: "RedotPay Weighs Confidential US IPO Filing by Year-End" description: "The Hong Kong-based stablecoin payments firm is reportedly discussing pre-IPO funding at a valuation up to $5 billion despite an ongoing Binance lawsuit." url: https://basisdesk.news/news/redotpay-weighs-confidential-us-ipo-filing published: 2026-10-27T04:36:22.706Z modified: 2026-10-27T04:36:22.706Z section: Institutions & ETFs author: Basis Desk Newsroom (AI-generated, source-verified) sentiment: neutral tickers: [USDT] tags: [redotpay, ipo, stablecoins, payments, binance, litigation] license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice. --- # RedotPay Weighs Confidential US IPO Filing by Year-End The Hong Kong-based stablecoin payments firm is reportedly discussing pre-IPO funding at a valuation up to $5 billion despite an ongoing Binance lawsuit. ## At a glance - **What happened:** RedotPay is considering submitting a confidential US IPO filing by the end of 2026 while discussing a pre-IPO round valuing the firm at up to $5 billion. - **Why it matters:** A listing would test institutional appetite for stablecoin card issuers amid an active $473 million legal battle with Binance affiliates. - **Who is affected:** RedotPay, its founders, prospective institutional investors, and Binance-affiliated plaintiffs. - **What's next:** A potential confidential submission with US securities regulators before the conclusion of 2026. - **Status:** announced - **Primary source:** [RedotPay weighs confidential US IPO filing by year-end: Bloomberg](https://cointelegraph.com/news/redotpay-weighs-confidential-us-ipo-filing-by-year-end-bloomberg?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com ## Key points - RedotPay is considering a confidential US initial public offering filing by the close of 2026 [1]. - The payments firm is discussing a pre-IPO funding round that could value it between $4 billion and $5 billion [1]. - Binance-affiliated entities sued RedotPay founders in August, seeking nearly $473 million over alleged misuse of confidential data [1]. ## Editorial remark - **Context:** RedotPay initially explored a $1 billion-plus New York listing early in the year, but momentum was questioned following an August lawsuit from Binance-linked entities. - **Impact:** If completed, the offering would mark one of the largest public market debuts for a crypto-native stablecoin card issuer, setting benchmark valuations for payment rails. - **Watch:** Monitor confidential draft registration submissions with US regulators before year-end 2026 and filings in the ongoing $473 million Binance lawsuit. 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. ## FAQ **What is the valuation RedotPay is targeting ahead of the IPO?** RedotPay is in talks with investors for a pre-IPO funding round that could value the company between $4 billion and $5 billion [1]. **What legal dispute is RedotPay facing?** Binance-affiliated entities sued RedotPay's founders in August, alleging they misused confidential information to establish a competing payments service and seeking nearly $473 million in damages [1]. ## Sources 1. [RedotPay weighs confidential US IPO filing by year-end: Bloomberg](https://cointelegraph.com/news/redotpay-weighs-confidential-us-ipo-filing-by-year-end-bloomberg?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound) — cointelegraph.com, 2026-10-27 --- Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai