RedotPay Eyes Confidential US IPO Filing by Year-End at Up to $5 Billion Valuation

Hong Kong-based stablecoin payments company RedotPay is considering a confidential filing for a US initial public offering (IPO) before the end of 2026. The potential move comes after months of uncertainty surrounding its listing plans.

Bloomberg reported on October 26 that RedotPay is also discussing a possible pre-IPO funding round with investors. The fundraising could value the cryptocurrency payments company between $4 billion and $5 billion, according to people familiar with the discussions.

RedotPay Revives US IPO Plans Amid Regulatory Challenges

RedotPay first explored a US stock market listing in February 2026, with plans to potentially raise more than $1 billion. The company reportedly engaged JPMorgan Chase, Goldman Sachs, and Jefferies to assist with the proposed offering.

However, Bloomberg reported in August that regulatory hurdles and legal disputes had complicated the company’s IPO timeline. Those challenges raised questions about whether RedotPay could complete its public listing before 2027.

RedotPay subsequently challenged reports that its listing had been postponed. In September, the company confirmed that it had completed a financial audit as part of its preparations for a potential US IPO.

The company also conducted a separate review of its anti-money laundering and counterterrorist financing controls. These steps support its efforts to strengthen financial transparency and regulatory compliance ahead of a possible listing.

Binance Legal Dispute Adds Uncertainty

RedotPay’s IPO preparations continue amid a legal dispute involving Binance-affiliated companies. In August, Binance affiliates filed a lawsuit against RedotPay’s founders, seeking approximately $473 million in damages.

The lawsuit alleges that the founders used confidential business information to establish a competing payments platform and attract customers. RedotPay has rejected the allegations and maintains that it will defend itself against the claims.

Despite these challenges, RedotPay continues expanding its stablecoin payments business. Founded in 2023, the company provides cryptocurrency payment cards and services that allow customers to spend digital assets on everyday purchases.

The company now serves more than 9 million customers worldwide, according to figures cited in the latest reporting. Its annualized revenue has also exceeded $180 million.

A confidential IPO filing would allow RedotPay to advance its listing preparations without immediately making its financial disclosures public. However, the company has not confirmed a filing date, and the proposed offering remains subject to market conditions and regulatory considerations.