Pember quoted sources as saying that the stabilization currency payment company RedotPay had postponed the $1 billion United States first-time public equity initiative that was scheduled for this year, and that listing was unlikely to be earlier than 2027. It was noted that the adjustment was related to the legal issues being addressed by the company.

RedotPay, based in Hong Kong, recently obtained a United States remittance licence and is about to launch its product in the United States. The spokesperson for the company stated to CoinDesk that the current strategic focus remained on global compliance and business growth, without commenting on the IPO plan.

The listing is suspended.

This listing was first circulated this February. RedotPay was reported to have approached Morgan Chase, Goldman Sachs and Jeffrey to prepare for a potential listing.

However, as legal disputes persisted, the listing arrangements that had been targeted for completion this year had been postponed. According to Bloomberg, it's about $1 billion IPO, hard to land in the short term.

That's the deal.

RedotPay is currently facing a $470 million lawsuit filed in Hong Kong. It is alleged that the two parties previously had cooperative arrangements to allow users to complete the encrypted and French currency conversion on the RedotPay platform through Binance Pay funds, but that RedotPay had dug up some 470,000 users during the cooperation.

It was also reported that Cheon-Am had initiated parallel proceedings in Singapore. At this stage, legal disputes are considered to be one of the important reasons why RedotPay adjusts the pace of listing.

United States business continues to advance.

Despite the alleged suspension of the IPO project, RedotPay is advancing the United States market layout. According to a corporate spokesperson, United States money transfer licences had been obtained this week, and preparations were under way to go online.

  • The number of users rose to 8.5 million in the second quarter, a record high.
  • Annual revenue of $180 million is also high.
  • The number of users in the first quarter was about 8 million.

Additional information:There was a clear inconsistency in the presentation of the annualization of the data received in the first quarter of the original text, with the phrase “almost $12 billion” appearing in CoinDesk.