RedotPay’s ambition to list in the United States appears to be running into a slowdown, according to a report from Bloomberg. The stablecoin payments company is said to have delayed plans for a US initial public offering (IPO) as it navigates regulatory steps and ongoing legal disputes tied to Binance.
While Bloomberg reported the postponement, a RedotPay representative told Cointelegraph that the company is not discussing IPO timing. Instead, the spokesperson pointed to RedotPay’s recent progress in the US, stating the firm obtained a money transmitter license this week and is preparing to launch its product in the country.
Key takeaways
Bloomberg reports RedotPay has delayed its planned US IPO while it seeks regulatory approvals and deals with legal pressure involving Binance.
RedotPay did not comment on IPO timing to Cointelegraph, but said it recently secured a US money transmitter license.
Legal claims at the center of the delay include a lawsuit reportedly seeking nearly $473 million filed by Binance affiliates.
RedotPay’s IPO plans were previously flagged earlier this year, including reports of discussions with major investment banks.
IPO plans pushed back amid US expansion
According to Bloomberg, RedotPay has put its US IPO timeline on hold as it works through regulatory requirements. The report cites people familiar with the matter and frames the delay as part of broader preparations to expand into the US market.
RedotPay’s position, as conveyed to Cointelegraph, shifts the emphasis toward product rollout rather than capital markets timing. The company representative said RedotPay obtained a money transmitter license in the United States this week and is preparing to launch its stablecoin payments offering there.
For investors and market watchers, the sequencing matters. Stablecoin-focused payment businesses typically depend on licenses and regulator-by-regulator permissions to operate at scale, which can complicate an IPO process when litigation and approvals are both active.
From early-year IPO chatter to banking discussions
RedotPay’s US public-market ambitions first surfaced in February, when reports suggested the company was considering a listing in New York. At the time, RedotPay was described as working toward a potential IPO that could draw significant capital, with prior reporting indicating involvement from major firms including JPMorgan Chase, Goldman Sachs, and Jefferies Financial Group.
Those earlier reports also pointed to a target valuation above $4 billion and discussions that could have raised more than $1 billion, alongside other organizational changes. In March, Cointelegraph reported that RedotPay was seeking to raise up to $150 million amid internal restructuring and preparations for a potential IPO.
While IPO timing can change quickly in fast-moving sectors, the more recent US licensing step suggests the company is concentrating on operational readiness. That could be consistent with a broader trend in crypto-adjacent businesses: demonstrating licensed activity and compliance footing before pursuing the added scrutiny that comes with public listing.
Binance litigation adds legal and operational uncertainty
A major factor in the IPO delay narrative is the legal dispute involving Binance affiliates. Earlier in August, Binance affiliates reportedly sued RedotPay’s founders in Hong Kong seeking nearly $473 million in damages. The allegations claim the founders used confidential information obtained through their prior involvement with Binance to build a competing payments business and to redirect Binance users toward RedotPay.
RedotPay has denied the accusations. In correspondence with Cointelegraph, the company said it would “vigorously defend all claims.” That stance is important for assessing how persistent the dispute may be: even if the company believes it will win, the existence of a large claim can affect how comfortable underwriters and regulators feel about moving forward with an IPO during the dispute’s active stage.
The conflict has also extended beyond Hong Kong. Cointelegraph previously reported that the disagreement spilled into Singapore, where Binance and RedotPay differ on the status of a related case. RedotPay told Cointelegraph this week that it expected Binance to discontinue that matter, while Binance rejected RedotPay’s characterization and said its claims remain active.
Taken together, the litigation timeline and regional spread underline why RedotPay might prefer to focus on licensing milestones and product execution while legal outcomes remain uncertain.
What to watch next
As RedotPay pushes toward a US launch after receiving a money transmitter license, the next developments that may shape both operations and any future IPO timetable are regulatory milestones tied to its expansion and the trajectory of the Binance affiliate lawsuits. For now, the company’s public-market plans appear to be on pause, with attention shifting to compliance and execution in the US.
