%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment Multiple media reports say that Hong Kong-based stablecoin firm RedotPay plans to hold a U.S. initial public offering (IPO) by year's end. According to the reports, RedotPay is planning to make a confidential regulatory filing to hold its IPO before the end of 2026 at a potential valuation of $5 billion U.S. A confidential filing would allow U.S. regulators to review draft offering documents before the company makes its registration statement publicly available. Wall Street banks JPMorgan Chase (NYSE: $JPM ) and Goldman Sachs (NYSE: $GS ) are reportedly advising on the proposed share sale. However, RedotPay has not announced a listing venue, share price, offering size, or expected trading date for its stock. RedotPay had planned to hold its IPO earlier this year but canceled those plans amid an ongoing legal dispute involving crypto exchange Binance. In the lawsuit, Binance and its affiliates are seeking $473 million U.S. in damages from RedotPay. The lawsuit claims that confidential business information helped RedotPay develop a competing payments service and steal Binance customers. Specifically, Binance claims that more than 470,000 former Binance Card customers have moved to RedotPay. The legal dispute remains ongoing. The lawsuit does not appear to be deterring RedotPay from its plans to go public this year. Founded in 2023, RedotPay provides cryptocurrency payment cards, multicurrency wallets, and global transfer services, with stablecoins forming a big part of its business. The company reportedly serves more than nine million customers and employs approximately 280 people worldwide. RedotPay most recently reported that its annualized revenue surpassed $180 million U.S. The firm raised $194 million U.S. in a 2025 funding round.