Hong Kong-based stablecoin payments company RedotPay says it has completed a financial audit and a separate review of its anti-money-laundering and counter-terrorist-financing controls, maintaining that it is continuing to prepare for a U.S. initial public offering.
The company’s announcement provides its clearest confirmation yet that the listing process remains active. It also disputes an August report that legal and regulatory matters had delayed the potential IPO until 2027 or later.
RedotPay did not provide a timetable for the offering. However, a person familiar with the company said it is seeking a valuation above $5 billion.
Audit completed as part of listing preparations
RedotPay said both reviews were carried out by unnamed Big Four accounting firms. The financial audit is particularly important for a U.S. listing because an IPO prospectus must contain audited financial statements. The separate compliance review examined the company’s controls for preventing money laundering and terrorist financing.
The company described the work as part of an effort to strengthen confidence in its financial reporting and compliance systems. Michael Gao, RedotPay’s chief executive and co-founder, said in emailed comments that the reviews also formed part of the preparation for taking the company public.
An audit and a compliance assessment serve different purposes. Financial statements provide information about a company’s financial position and performance, while anti-money-laundering and counter-terrorist-financing controls are intended to address risks associated with illicit funds and prohibited activity. RedotPay presented the completion of both processes as progress toward its proposed listing.
Company rejects report of an IPO deferral
According to CoinDesk, RedotPay’s comments followed an August report that the company had put its U.S. listing on hold while seeking regulatory approvals and dealing with legal issues. That report said an offering could take place in 2027 or later rather than this year.
RedotPay rejected that characterization. A company spokesperson told CoinDesk in emailed comments that there had been “no deferral” of the IPO and said RedotPay was continuing to work with its partners on the process. The company did not announce a listing date or provide details about the regulatory approvals or legal matters referenced in the earlier report.
The distinction is significant because completing an audit does not itself guarantee that an IPO will proceed, nor does it establish when shares could begin trading. A company pursuing a U.S. offering must still complete the relevant public-market process and disclose required information in its prospectus. RedotPay’s statement confirms its stated intention to continue, but leaves the timing unresolved.
RedotPay provides services that allow customers to hold stablecoins through an application, use those assets with a linked Visa card and send money across borders. Stablecoins are digital assets designed to maintain a relatively stable value, generally in relation to a reference currency or other asset. The company said it had 8.5 million users as of July.
A person familiar with the matter said RedotPay is targeting a valuation of more than $5 billion. The same person said transaction volume reached a record in the second quarter and that the company’s operating margin exceeded 50%, but did not provide the underlying financial figures.
IPO plans come amid a cautious crypto market
RedotPay’s push toward a public listing comes as other crypto-related businesses have reportedly slowed their own IPO plans. CoinDesk reported that Payward, the parent of Kraken; Ethereum software developer Consensys; hardware-wallet maker Ledger; and asset manager Grayscale have all delayed prospective offerings amid weaker market conditions.
That backdrop makes RedotPay’s insistence that its IPO has not been deferred notable, although the company has not said when it expects to file or list. Its completed audit may remove one stated preparation requirement, while the separate compliance review addresses another area that is central to a payments business handling digital assets.
Moneyiar market picture
Moneyiar market data recorded on Sept. 25, 2026, shows Polkadot at $1.1878870695, up 1.67% over 24 hours and 4.2% over seven days. Stable was priced at $0.0263506981, down 0.32% in 24 hours but up 5.64% over seven days.
Compound stood at $23.8186759137, falling 0.88% over 24 hours and rising 13.75% over seven days. RedStone traded at $0.1730182152, gaining 7.61% over 24 hours and 18.4% over seven days. These figures are Moneyiar data at the stated times and are separate from RedotPay’s company-reported operating information.
