RedotPay IPO delay has pushed the stablecoin payments firm’s planned US listing toward 2027, according to Bloomberg, which cited people familiar with the matter. The Hong Kong-based company had explored an offering that could raise more than $1 billion at a valuation above $4 billion. However, the listing is now seen as unlikely before 2027 rather than as early as this year.
RedotPay said it needs regulatory approvals in the countries where it operates before moving ahead. The company did not give a new IPO date beyond Bloomberg’s 2027 estimate. Meanwhile, the source article said RedotPay framed the delay around approvals and did not include legal or leadership issues in that explanation.
RedotPay IPO Delay and Funding History
RedotPay raised $194 million in two funding rounds in 2025. Those rounds included support from the venture arms of Coinbase and Circle. In February, the company said it was weighing a US listing that could raise more than $1 billion, and Bloomberg reported at the time that it had 6 million users.
By March, RedotPay was also seeking another $150 million. At the same time, the company faced management turnover. At least five senior hires left within 12 months, the compliance chief role changed twice, and the firm had no chief financial officer in place.
Binance Lawsuits Remain Unresolved
In August, Binance-affiliated entities sued RedotPay founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao in Hong Kong. A similar case was also filed in Singapore. The claims say the founders diverted about 470,000 users to RedotPay, which the plaintiffs say breached a March 2025 partnership agreement.
That agreement let Binance Pay users use RedotPay’s card to convert crypto into fiat. The lawsuits seek about $473 million in damages. RedotPay rejected the allegations and told CoinDesk it will vigorously defend all claims.
RedotPay also said its business continues to expand. It reported 8.5 million users as of July. Additionally, the company said this week that it had secured a US money transmitter licence as it prepares to launch its product in the domestic market.
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Source: Finance Magnates
