Hong Kong-based stablecoin payments company RedotPay is considering submitting a confidential filing for a US initial public offering by the end of 2026, according to reporting cited by Cointelegraph. The possibility comes after earlier reports that the company had postponed its listing plans because of regulatory obstacles and legal disputes linked to Binance.
Potential IPO and pre-IPO valuation
RedotPay is also discussing a possible pre-IPO funding round with investors. The financing could value the company at between $4 billion and $5 billion, Bloomberg reported, citing people familiar with the matter. RedotPay declined to comment.
A confidential IPO filing would allow a company to begin the regulatory process privately before potentially making its documents public. It does not guarantee that a listing will proceed, and the company’s latest reported plans remain under consideration.
RedotPay says it has more than 8 million users. Paymentscan data cited in the report shows that its stablecoin card transaction volume reached $410.5 million over a 30-day period. Stablecoins are digital assets designed to maintain a relatively stable value, commonly by being linked to a fiat currency, and are increasingly used in payments and transfers across crypto platforms.
Listing plans and legal dispute
Reports in February said RedotPay was exploring a New York listing that could raise more than $1 billion and value the company at above $4 billion. JPMorgan Chase, Goldman Sachs and Jefferies were reportedly involved in work on the potential offering.
In August, Bloomberg reported that the US listing had been delayed amid regulatory hurdles and legal disputes involving Binance-affiliated companies. RedotPay later disputed that description, saying there had been no deferral of its IPO and that it was continuing to work with partners on the process.
The legal conflict includes a lawsuit filed in August by Binance-affiliated companies against RedotPay’s founders. The plaintiffs are seeking nearly $473 million in damages, alleging that confidential information was used to build a competing payments business and divert customers. RedotPay has denied the allegations and previously said it would vigorously defend all claims.
Current market picture
Moneyiar market data recorded at the stated times shows mixed performance among the listed crypto assets:
- Polkadot (DOT): $1.0330667902, down 0.39% over 24 hours and 5.65% over seven days, as of October 25, 2026, at 22:38 +03:30.
- Filecoin (FIL): $0.9256286118, down 0.7% over 24 hours and 10.35% over seven days, as of October 25, 2026, at 22:39 +03:30.
- Stable (STABLE): $0.0265498473, down 2.51% over 24 hours but up 10.84% over seven days, as of October 25, 2026, at 22:39 +03:30.
- Celestia (TIA): $0.5321576029, unchanged over 24 hours and down 11.85% over seven days, as of October 25, 2026, at 22:38 +03:30.
The market figures are Moneyiar data and are separate from RedotPay’s reported user and transaction figures.
