According to CoinMeta, and as reported by Bloomberg, Binance has filed a lawsuit worth nearly $473 million against Hong Kong payment company Redotpay and its co-founders, accusing the company of violating a business agreement, which led to over 470,000 Binance Card users switching to their stablecoin payment card service. The lawsuit seeks compensation for losses amounting to approximately $472.8 million. Redotpay stated that they will actively defend themselves through legal proceedings and claimed that the lawsuit will not affect their daily operations. The user base of Redotpay has grown by more than 33% in the past six months, now exceeding 8 million users, with an annual revenue of about $180 million.