defi · · 2 outlets
RedotPay weighs confidential US IPO filing by year-end amid $5B valuation talks
The Hong Kong-based stablecoin payments company, RedotPay, is reportedly advancing preparations for a U.S. initial public offering.
Discussions indicate the company is considering a confidential regulatory filing with the U.S. Securities and Exchange Commission before the end of 2026. This potential move follows months of regulatory preparations.
The proposed fundraising round could assign RedotPay a valuation between $4 billion and $5 billion. Major investment banks, including JPMorgan Chase, Goldman Sachs, Jefferies, and Barclays, are reportedly involved in the transaction.
A confidential filing would permit the SEC to review draft offering documents prior to the public release of the registration statement.
These renewed filing discussions come after prior reports suggested the company had postponed its listing due to legal and regulatory issues. RedotPay had previously contested this characterization.
The company is currently navigating legal challenges from Binance-affiliated entities, which filed a lawsuit in August. These plaintiffs seek nearly $473 million in damages, alleging the company used confidential business information.
RedotPay has asserted that this litigation will not disrupt its ongoing operations, stating in an August 5 company statement that it remains confident in its legal position and was “vigorously defending all claims.”
This activity occurs while RedotPay continues its pursuit of a U.S. market debut, following earlier plans in February that involved JPMorgan, Goldman Sachs, and Jefferies.
The firm, which provides cryptocurrency payment cards and multicurrency wallets, has served over 9 million customers. Its annualized revenue reportedly exceeded $180 million, based on sources familiar with the business.
The current focus on regulatory filings and institutional engagement reflects a broader trend among crypto market participants seeking formalized pathways for listing and operational legitimacy within established jurisdictions.
Why it matters
This development signals a concrete regulatory move for a major stablecoin player in the US market. The ongoing legal disputes and regulatory preparations highlight the complex environment for crypto firms seeking US market access. Investors should watch how the SEC reviews this confidential filing in light of existing litigation.
Reported by CoinTelegraph and crypto.news.
Topics: defi, regulation, exchange.
