Stablecoin payments firm delays U.S. listing to 2027 or later following a $473 million lawsuit from Binance-linked entities.
RedotPay has pushed back its planned U.S. initial public offering to at least 2027, citing regulatory hurdles and legal challenges. The company had aimed for a valuation exceeding $4 billion and sought to raise over $1 billion in the offering.
The delay follows a lawsuit from Binance-linked entities, which allege RedotPay improperly diverted 470,000 Binance Card users to its own product. The suit seeks nearly $473 million in damages. RedotPay had initially targeted a 2024 listing but faces heightened scrutiny in the crypto sector.
No immediate market reaction was reported, though the postponement reflects broader regulatory uncertainty in digital asset markets.