RedotPay completes financial audit, targets US IPO amid delays

RedotPay, the Hong Kong-based fintech company that built its business around stablecoin-powered payments, has completed a financial audit as it continues pursuing a US initial public offering. The listing was originally slated for 2026, but has been pushed back to at least 2027. The company initially targeted a raise of more than $1 billion at a valuation exceeding $4 billion, with JPMorgan Chase, Goldman Sachs, and Jefferies reportedly advising on the deal. What’s causing the delay Two factors are gumming up the timeline: regulatory approvals and active litigation. On the legal front, RedotPay is dealing with a $473 million lawsuit from Binance-affiliated entities alleging substantial user poaching. RedotPay has called the claims baseless and says the litigation doesn’t affect its day-to-day operations. RedotPay secured a US money transmitter license in August 2026, a meaningful milestone that positions the company for a domestic product launch. But the broader process of getting SEC sign-off for a public listing, while simultaneously operating across more than 100 markets with varying compliance requirements, is contributing to the delay. Growth that backs up the ambition The fir...