The RedotPay IPO could move closer to a US listing before the end of 2026, with the Hong Kong-based stablecoin payments company reportedly preparing a confidential filing. The plans come as Binance-affiliated companies seek nearly $473 million in damages from its founders.

Key Takeaways

  • RedotPay is reportedly discussing a pre-IPO funding round at a potential valuation of $4 billion to $5 billion.
  • The company denied allegations in the Binance-affiliated lawsuit and has disputed an earlier characterization that its IPO plans were delayed.

RedotPay IPO plans and funding talks

A confidential submission would allow RedotPay to provide draft financial disclosures to the US Securities and Exchange Commission without making them immediately public. The reported plan does not establish that a filing has been made or that a listing will occur.

RedotPay is also in talks with investors about a potential funding round ahead of an IPO. The discussed $4 billion to $5 billion valuation is not a completed transaction or a public-market valuation.

In February 2026, RedotPay was reported to be exploring a New York listing that could raise more than $1 billion at a valuation above $4 billion. JPMorgan Chase, Goldman Sachs and Jefferies were reportedly advising on the offering.

Binance lawsuit and disputed delay

Binance-affiliated companies allege that RedotPay’s founders used confidential information to build a competing payments business and divert customers. RedotPay has denied the allegations and said it would vigorously defend the claims.

An August report said regulatory hurdles and the legal dispute had delayed RedotPay’s US listing plans. The company disputed that characterization, saying there had been no deferral and that it was continuing to work with partners on the IPO process.

Stablecoin card business

RedotPay operates a stablecoin-linked payment card that lets users spend stablecoins at traditional merchants. The company says it has more than 8 million users.

Paymentscan data shows $410.5 million in stablecoin card transaction volume over 30 days. Transaction volume is a measure of payments activity, not a disclosed revenue figure.

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