Bloomberg: RedotPay considers submitting a secret application to the US IPO before the end of the year

This stablecoin payment company previously raised objections to reports of the postponement of its US listing.

It is reported that RedotPay, a stablecoin payment company headquartered in Hong Kong, is considering filing an application for its initial public offering (IPO) in the United States before the end of 2026. Two months ago, there were reports that the company had postponed its listing plans due to regulatory and legal obstacles.

Bloomberg reported on Monday, citing sources familiar with the matter, that RedotPay is still in talks with investors regarding a potential pre-financing round of IPO. The valuation for this financing round could range between $4 billion and $5 billion.

RedotPay indicates that its user base has exceeded 8 million. Data from Paymentscan shows that the trading volume of its stablecoin within 30 days is 410.5 million US dollars.

In February of this year, there were reports for the first time that RedotPay was exploring a listing in New York, with a potential financing scale of over $1 billion and a valuation of over $4 billion. It is said that JPMorgan Chase, Goldman Sachs, and Jefferies are involved in this issuance process.

However, Bloomberg reported in August that RedotPay postponed its plans to list in the United States due to regulatory obstacles and legal disputes involving Binance.

Subsequently, the company raised objections to this claim. It was reported that RedotPay stated, "Our IPO has not been postponed," and claimed that the company "is continuing to advance the IPO process with our partners."

In August this year, a company affiliated with Binance sued the founder of RedotPay, demanding nearly $473 million in compensation on the grounds that they used confidential information to establish a competitive payment business and transferred customers.

RedotPay denied these accusations and once stated to Cointelegraph that they would 'resolutely defend against all charges'.

Related Reading:Binance and RedotPay have a conflict over the outcome of the lawsuit in Singapore