RedotPay weighs confidential US IPO filing by year-end: Bloomberg
The stablecoin payments company previously disputed reports that its US listing had been delayed.
Stablecoin payments firm RedotPay is reportedly considering filing for a confidential US initial public offering (IPO) by the end of 2026, according to Bloomberg. The Hong Kong-based company faced delays in its IPO plans due to regulatory and legal hurdles, but is now in discussions with potential investors about a pre-IPO funding round that could value the company between $4 billion and $5 billion.
RedotPay claims it has more than 8 million users and $410.5 million in 30-day stablecoin card transaction volume. Initially, the company was reported to be exploring a New York listing that could raise over $1 billion at a valuation exceeding $4 billion, with major banks like JPMorgan Chase, Goldman Sachs, and Jefferies involved.
However, Bloomberg previously reported in August that RedotPay had delayed its US listing plans due to regulatory and legal issues involving Binance. RedotPay refuted these claims, stating they were "continuing to work with our partners on the IPO process." Additionally, Binance-affiliated companies recently sued RedotPay's founders, alleging they had used confidential information to build a competing payments business and steal customers.
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