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RedotPay’s plans for a US stock market debut have reportedly been delayed as the stablecoin payment company prepares to expand into the country.
The company delayed plans for a US initial public offering (IPO) while it seeks regulatory approvals and contends with legal disputes involving Binance, Bloomberg <a href="https://www.bloomberg.com/news/articles/2026-08-14/stablecoin-firm-redotpay-is-said-to-delay-us-ipo-on-legal-issues" rel="noopener noreferrer nofollow">reported</a> on Friday, citing people familiar with the matter.
A RedotPay representative declined to comment on the timing of an IPO to Cointelegraph. The representative instead pointed to the company’s US expansion, saying RedotPay obtained a money transmitter license in the US this week and is preparing to launch its product in the country.
The reported setback follows a nearly $473 million lawsuit filed by Binance affiliates and comes as RedotPay works to expand its regulatory footprint in the US and other markets.
<h2 id="redotpay-s-ipo-ambitions-surfaced-in-february">RedotPay’s IPO ambitions surfaced in February</h2>
RedotPay, founded in 2023 and based in Hong Kong, first emerged as a potential US public-market entrant in February, when reports surfaced that the company was considering a New York listing.
RedotPay has reportedly been working with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group on a listing that could raise more than $1 billion. At the time, the company was seeking a valuation of more than $4 billion.
Related: <a href="https://cointelegraph.com/news/bithumb-ipo-timetable-internal-controls" rel="noopener noreferrer nofollow">Bithumb sets 2028 IPO timetable as it overhauls internal controls</a>
Separately, RedotPay has reportedly been in talks to <a href="https://cointelegraph.com/news/redotpay-team-consolidation-turnover-claims-funding-ipo" rel="noopener noreferrer nofollow">raise up to $150 million</a> in new funding amid organizational changes and preparations for a potential IPO. “As we transition from an early-stage startup to a unicorn, we are evolving our organizational structure and talent pool to support our ongoing growth trajectory,” RedotPay told Cointelegraph in March.
<h2 id="binance-lawsuit-adds-legal-pressure">Binance lawsuit adds legal pressure</h2>
Binance affiliates sued RedotPay’s founders in Hong Kong earlier in August, <a href="https://cointelegraph.com/news/binance-redotpay-lawsuit-alleged-473-million-losses" rel="noopener noreferrer nofollow">seeking nearly $473 million in damages</a> over allegations that they diverted hundreds of thousands of customers from Binance to RedotPay.
The plaintiffs allege that RedotPay’s founders used confidential information obtained through their previous work with Binance to build a competing payments business and attract Binance users. RedotPay rejected the allegations and told Cointelegraph it would “vigorously defend all claims.”
The dispute has also spilled into Singapore, where <a href="https://cointelegraph.com/news/binance-redotpay-clash-singapore-lawsuit" rel="noopener noreferrer nofollow">Binance and RedotPay disagree</a> over the fate of a related case. RedotPay told Cointelegraph this week that it expected Binance to discontinue the case, while Binance rejected that account and said its claims remain active.
Magazine: <a href="https://cointelegraph.com/magazine/fake-crypto-startup-fooled-north-korean-it-workers" rel="noopener noreferrer nofollow">Inside the fake crypto startup that fooled North Korean IT workers</a>

RedotPay US IPO delayed amid regulatory, legal hurdles: Report

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