RedotPay Weighs Confidential US IPO at $5 Billion Valuation
Hong Kong-based stablecoin payments firm RedotPay is considering a confidential U.S. IPO filing before the end of 2026 at a potential valuation of up to $5 billion.
Hong Kong-based stablecoin payments company RedotPay has renewed preparations for a U.S. initial public offering, considering a confidential regulatory filing before the end of 2026, according to BigGo Finance. The proposed fundraising and pre-IPO funding round could value the payments company between $4 billion and $5 billion.
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JPMorgan Chase, Goldman Sachs, Jefferies and Barclays are advising on the proposed listing, according to the report. RedotPay's annualized revenue reportedly surpassed $180 million after reaching a $100 million run rate within 18 months of launch. Revenue during the first nine months of 2026 grew more than 50% compared with the same period last year, and the company's operating profit margin reportedly exceeded 50%. The company previously raised $194 million through financing rounds in 2025, including a $107 million Series B investment backed by Goodwater Capital, Pantera Capital and Blockchain Capital.
Legal Dispute and Operations
The IPO preparations continue alongside a $473 million legal dispute involving Binance-affiliated companies. Plaintiffs filed a lawsuit in August claiming that more than 470,000 former Binance Card customers moved to RedotPay after confidential business information was allegedly used to develop a competing service. RedotPay has denied the allegations and stated that the litigation will not disrupt its operations. Founded in 2023, RedotPay serves more than 9 million customers and employs approximately 280 people worldwide.
Key facts
- RedotPay is considering a confidential U.S. IPO filing before the end of 2026.
- A potential pre-IPO funding round could value the company at $4 billion to $5 billion.
- JPMorgan, Goldman Sachs, Jefferies and Barclays are advising on the listing.
- Binance affiliates are seeking nearly $473 million in damages in a related lawsuit, which RedotPay denies.
- RedotPay serves more than 9 million customers and reported annualized revenue exceeding $180 million.
Source: news.google.com
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