RedotPay completes audit, targets $5B+ US IPO
4.1 Stablecoins RedotPay completed Big Four audits as it prepares for a $5B+ US IPO. The company denies IPO delays, but regulatory and legal issues may push the listing to 2027.
RedotPay, a Hong Kong-based stablecoin payments provider, has completed a financial audit and a separate review of its anti-money-laundering and counter-terrorist-financing controls, both conducted by Big Four firms. These measures are part of RedotPay’s preparations for a U.S. initial public offering (IPO), with the company aiming for a valuation above $5 billion and reporting 8.5 million users as of July. RedotPay has denied reports that its IPO has been postponed, stating the process remains active, though no specific listing date has been set. However, some sources suggest the IPO could be delayed until at least 2027 due to regulatory approvals and ongoing litigation, including a $473 million lawsuit from Binance-affiliated entities. The company asserts that the litigation does not impact its daily operations and highlights the recent acquisition of a U.S. money transmitter license as a significant milestone. RedotPay continues to expand its stablecoin card and cross-border payment services while advancing its IPO plans.
