RedotPay Considers Confidential IPO Filing in the U.S. by the End of 2026

The Hong Kong-based company RedotPay, operating in the stablecoin payments sector, is considering a confidential filing for an initial public offering in the U.S. by the end of 2026. Bloomberg reported this on Monday, citing sources familiar with the matter. This comes two months after reports that plans for a U.S. listing were postponed due to regulatory and legal hurdles.

According to sources, RedotPay is also in talks with investors about a pre-IPO funding round that could value the company at $4–5 billion. According to the company, it has over 8 million users; according to Paymentscan, the 30-day transaction volume for stablecoin card payments was $410.5 million.

In February, it was reported that RedotPay was exploring a listing in New York: the offering could have raised over $1 billion with a valuation exceeding $4 billion, and it was reportedly to be prepared by JPMorgan Chase, Goldman Sachs, and Jefferies.

However, in August, Bloomberg reported that RedotPay had postponed its U.S. listing plans due to regulatory hurdles and legal disputes involving Binance. The company disputed this interpretation, stating that "there was no postponement of our IPO" and that it "continues to work with partners on the IPO process."

In August, companies associated with Binance filed a lawsuit against the founders of RedotPay, seeking nearly $473 million in damages. The plaintiffs allege that the defendants used confidential information to create a competing payments business and poach clients. RedotPay denied the allegations and previously stated that it would "vigorously defend against all claims."