Hong Kong-based stablecoin payments firm RedotPay is reportedly preparing a confidential US IPO filing by the end of 2026. This move comes despite earlier reports suggesting the company had postponed its public listing plans due to regulatory and legal challenges.
The company is currently negotiating a pre-IPO funding round with investors. According to reports, this round could value RedotPay between $4 billion and $5 billion. Previously, in February, the company explored a New York listing aiming to raise over $1 billion.
RedotPay reports a user base exceeding 8 million people. Data from Paymentscan indicates that the company processed $410.5 million in stablecoin card transactions over a 30-day period. JPMorgan Chase, Goldman Sachs, and Jefferies are reportedly involved in the IPO process.
In August, Binance-affiliated entities filed a lawsuit against RedotPay founders, seeking nearly $473 million in damages. The plaintiffs allege that the founders utilized confidential information to establish a rival business. RedotPay has denied these claims and intends to defend its position.
