RedotPay finishes audit as US listing slips to 2027
Hong Kong-based stablecoin payments company RedotPay has completed a financial audit while pursuing a US initial public offering. The listing, initially planned for 2026, has been delayed to at least 2027 due to regulatory approvals and a $473 million lawsuit from Binance-affiliated entities. RedotPay reported 8.5 million users, about $180 million in annualized revenue, and $10 billion to $12 billion in annualized payment volumes.
RedotPay, based in Hong Kong, has finished an audit while preparing a US IPO. The offering was once expected in 2026 but now looks unlikely before 2027. The company had aimed to raise over $1 billion at a valuation above $4 billion, with JPMorgan Chase, Goldman Sachs, and Jefferies reportedly involved.
It reported 8.5 million users in Q2 2026, roughly $180 million in annualized revenue, and $10 billion–$12 billion in annualized payment volume. A US money transmitter license obtained in August 2026 supports a domestic launch. RedotPay became a unicorn in 2025 after raising about $194 million from backers including Coinbase Ventures and Circle Ventures.
RedotPay’s delayed listing and ongoing lawsuit may temper near-term confidence in stablecoin payment firms, affecting investors, merchants, and users who rely on crypto-linked cards. A US launch, if approved, could broaden access to spending stablecoins at ordinary checkout terminals, but regulatory and legal uncertainty may slow adoption. The outcome could shape how quickly mainstream finance integrates stablecoin payments, with consequences for consumers seeking alternatives to traditional payment rails.