RedotPay US IPO delayed amid regulatory, legal hurdles: Report
RedotPay’s US IPO has reportedly been delayed as it seeks regulatory approvals, while the company says it secured a US money transmitter license.
RedotPay’s US IPO has reportedly been delayed due to regulatory and legal challenges, according to a report by Bloomberg. The stablecoin payment company is preparing to expand into the United States, having recently obtained a money transmitter license in the country. The delay comes after a $473 million lawsuit was filed by Binance affiliates, alleging that RedotPay’s founders diverted customers away from Binance using confidential information obtained during their time at the exchange.
Despite the setback, RedotPay is working on launching its product in the US and has been in talks to raise up to $150 million in new funding. The company, founded in 2023 and based in Hong Kong, had previously considered a New York listing and sought a valuation of over $4 billion.
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