RedotPay US IPO delayed amid regulatory, legal hurdles: Report

RedotPay’s plans for a US stock market debut have reportedly been delayed as the stablecoin payment company prepares to expand into the country.The company delayed plans for a US initial public offering (IPO) while it seeks regulatory approvals and contends with legal disputes involving Binance, Bloomberg reported on Friday, citing people familiar with the matter.A RedotPay representative declined to comment on the timing of an IPO to Cointelegraph. The representative instead pointed to the company’s US expansion, saying RedotPay obtained a money transmitter license in the US this week and is preparing to launch its product in the country.The reported setback follows a nearly $473 million lawsuit filed by Binance affiliates and comes as RedotPay works to expand its regulatory footprint in the US and other markets.RedotPay’s IPO ambitions surfaced in FebruaryRedotPay, founded in 2023 and based in Hong Kong, first emerged as a potential US public-market entrant in February, when reports surfaced that the company was considering a New York listing.RedotPay has reportedly been working with JPMorgan Chase, Goldman Sachs and Jefferies Financial Group on a listing that could raise more th...