RedotPay’s US IPO Postponed to 2027 or Later: $473 Million Lawsuit Looming

Stablecoin payment company RedotPay has postponed its US initial public offering (IPO), originally planned for 2026, to 2027 or later due to regulatory approvals and legal issues.

According to information from Wu Blockchain citing a Bloomberg report, RedotPay has revised its schedule for the US IPO it planned to conduct in 2026. Anonymous sources speaking to Bloomberg reported that the company is working to obtain necessary regulatory permits from the countries in which it operates and is dealing with legal issues during this process.

The company had previously aimed to achieve a valuation of over $4 billion and raise more than $1 billion in funds through the IPO. These targets indicated that the planned IPO could be one of the largest financing ventures in the crypto payment sector. However, the current schedule change has not yet been announced by RedotPay through an official statement.

Lawsuit obstacle in RedotPay’s IPO plan

The most notable development behind the postponement is a $473 million lawsuit filed by Binance-affiliated entities against RedotPay’s founders. The plaintiffs claim that the company improperly redirected more than 470,000 Binance Card users to its own card product. The lawsuit in question is cited as one of the legal hurdles RedotPay faces in its IPO process, though the outcome of the case has not yet been finalized.

Bloomberg sources state that RedotPay is working to complete regulatory approvals in the countries where it operates before the IPO. Accordingly, the IPO is expected to take place in 2027 or at a later date. However, at this stage, this timeline stands out as a potential plan reported by sources close to the matter, rather than an official company announcement.