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RedotPay weighs confidential US IPO filing by year-end: Bloomberg
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Hong Kong-based RedotPay is reportedly considering a confidential US initial public offering filing by the end of 2026, Bloomberg said. The stablecoin payments company is also discussing a pre-IPO round that could value it at $4 billion to $5 billion. The reported plans signal renewed momentum for a US listing.
RedotPay was first reported in February to be exploring a New York listing. That offering could raise more than $1 billion at a valuation above $4 billion. JPMorgan Chase, Goldman Sachs and Jefferies were reportedly working on the deal.
RedotPay says it has more than 8 million users. Paymentscan data shows $410.5 million in 30-day stablecoin card transaction volume. Those figures underline the company’s scale in stablecoin payments.
In August, Bloomberg reported that RedotPay had delayed its US listing amid regulatory hurdles and legal disputes involving Binance. RedotPay disputed that characterization. It said there had been “no deferral” of its IPO and that it was continuing to work with partners on the process.
Also in August, Binance-affiliated companies sued RedotPay’s founders. They sought nearly $473 million in damages. The lawsuit alleged the founders used confidential information to build a competing payments business and divert customers.
RedotPay has denied the allegations. The company previously told Cointelegraph it would “vigorously defend all claims.” The dispute remains a potential risk for its listing plans.
A confidential filing would let RedotPay prepare a US offering while keeping details private for longer. The reported pre-IPO talks suggest investors still see substantial value in stablecoin payments. The company’s next steps will be watched closely as regulatory and legal questions persist.
