RedotPay Weighs Confidential US IPO Filing by Year-End: Bloomberg

{"heading_1":"RedotPay's IPO Plans","paragraph_1":"RedotPay, a Hong Kong-based stablecoin payments company, is reportedly considering a confidential filing for a US initial public offering (IPO) by the end of 2026, two months after it had delayed its listing plans.","paragraph_2":"The delay in listing plans is reportedly due to regulatory and legal hurdles, with the company having previously disputed reports of a deferral of its IPO. Bloomberg reported that RedotPay is in talks with investors about a potential pre-IPO funding round that could value the company at between $4 billion and $5 billion.","paragraph_3":"RedotPay has more than 8 million users and has seen $410.5 million in 30-day stablecoin card transaction volume, according to data from Paymentscan. The company was first reported in February exploring a New York listing that could raise more than $1 billion at a valuation exceeding $4 billion, with JPMorgan Chase, Goldman Sachs, and Jefferies reportedly working on the offering.","paragraph_4":"However, Bloomberg reported in August that RedotPay had delayed its US listing plans amid regulatory hurdles and legal disputes involving Binance. The company has denied these allegations and previously told Cointelegraph that it would 'vigorously defend all claims.'","paragraph_5":"In August, Binance-affiliated companies sued the founders of RedotPay, seeking nearly $473 million in damages over allegations that they used confidential information to build a competing payments business and divert customers. RedotPay has denied the allegations.","paragraph_6":"The potential US IPO could value RedotPay at between $4 billion and $5 billion, and the company has more than 8 million users. The delay in listing plans is reportedly due to regulatory and legal hurdles, with the company having previously disputed reports of a deferral of its IPO.","paragraph_7":"The company is reportedly in talks with investors about a potential pre-IPO funding round that could value the company at between $4 billion and $5 billion. The delay in listing plans is reportedly due to regulatory and legal hurdles, with the company having previously disputed reports of a deferral of its IPO."}