redotpay

According to Bloomberg, Binance affiliated entities Nest Trading, Distributed Technologies, and Chaintecs Consulting Singapore have filed a lawsuit in Hong Kong against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao, accusing the three of breaching agreements by redirecting over 470,000 users from Binance Card to RedotPay, claiming damages of $472.8 million. Binance stated that since March 2026, it discovered that RedotPay had been allowing Binance Pay funds to be used for RedotPay card top-ups without isolation, claiming that this cooperation allowed RedotPay to obtain approximately $304 million in user funds from Binance Pay. RedotPay responded that it will vigorously defend against all allegations and that it does not affect the company's daily operations.In addition, Binance affiliated entity Chaintecs has also filed a lawsuit against RedotPay affiliates in Singapore, with a hearing scheduled for Friday. RedotPay had previously sought an IPO with an estimated valuation of approximately $4 billion, stating that its annualized payment volume currently reaches $14 billion, with annualized revenue of $180 million and over 8 million users.

Binance announced today that as part of the merchant partner review, Binance Pay has terminated support for payment functionality on the RedotPay platform as of April 3, 2026.The announcement emphasized that other services of Binance Pay are unaffected, and users can still transfer cryptocurrency to friends and family via email, phone number, or Binance ID (UID), and can use cryptocurrency payments at over 21 million merchants worldwide, including national QR code networks in multiple countries.Binance stated that it will continue to expand new merchant partners to provide users with more options.

Hong Kong stablecoin payment company RedotPay is in talks with several institutions for a new round of financing of up to $150 million. Previously, the company completed over $150 million in financing last year, with investors including the venture capital arms of Coinbase and Circle. RedotPay is currently valued at over $1 billion, aiming for a valuation of over $4 billion for its IPO in the United States this year.While advancing its IPO, the company is facing frequent changes in executives, with at least five senior employees having served for less than 12 months in the past year, and the compliance officer position has changed twice. The company is moving forward with its listing plans without a chief financial officer. Additionally, some of RedotPay's connections with mainland China have raised concerns. Co-founder Dawei Yuan is a former co-founder of the cryptocurrency exchange Huobi, and Chief Operating Officer Troy Yao previously managed an engineering team in China, which relocated to Hong Kong in 2025 due to concerns from U.S. investors. The participation of Beijing venture capital firm Gaorong Capital has not been disclosed due to China's regulatory stance on cryptocurrencies.

According to market news, Hong Kong stablecoin payment fintech company RedotPay is considering an IPO in the U.S., expected to reach $1 billion.According to the crypto data platform RootData, RedotPay previously completed a $107 million Series B financing, led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, and Circle Ventures, among others. Existing investors include HSG (formerly Sequoia Capital China). RedotPay provides global payment services using stablecoins and has stated that it currently has over 6 million registered users across more than 100 markets worldwide.

Hong Kong fintech company RedotPay, focused on stablecoin payments, announced the completion of a $107 million Series B funding round, led by Goodwater Capital, with participation from Pantera Capital, Blockchain Capital, Circle Ventures, and existing investor HSG (formerly Sequoia Capital China).

ChainCatcher news, at the Silicon Valley 101 x RootData annual summit held in Silicon Valley, RedotPay has successfully been selected for the RootData List 2025 "Top 100 Projects." RedotPay is a blockchain technology company focused on digital currency wallets and payment solutions. Its vision is not only to provide services but also to lead a global paradigm shift in payment methods by accelerating the acceptance of cryptocurrencies in everyday transactions and payments.This list is the third annual selection launched by the Web3 data platform RootData after its first release in 2023, aiming to showcase the major players in the Web3 field that are influential and innovative, and to assess the key forces that continue to drive industry progress.In 2025, RootData launched two major lists: "Top 100 Projects" and "Top 50 VCs." The "Top 100 Projects" list is primarily evaluated based on multiple dimensions such as platform popularity, social influence, project revenue, and overall industry impact, covering outstanding crypto projects in various core areas such as AI, RWA, and stablecoins over nearly a year.

ChainCatcher news, stablecoin payment company RedotPay has completed a $47 million strategic financing round, with a valuation exceeding $1 billion, officially becoming a fintech unicorn. This round of financing was led by Coinbase Ventures, with continued support from Galaxy Ventures and Vertex Ventures, along with participation from an undisclosed global tech entrepreneur.RedotPay was established in April 2023, providing stablecoin payment cards, multi-currency wallets, and global payment services. To date, the company has over 5 million users, with a total payment transaction volume reaching $10 billion. The global payment service launched in June of this year has made progress in underdeveloped regions such as Latin America, allowing cryptocurrency to be directly transferred to local bank accounts or e-wallets.RedotPay is currently headquartered in Hong Kong, with branches in Europe and Argentina, having obtained licenses in relevant regions. The company plans to further expand its global business channels, deepen cooperation with banks and payment networks, and prioritize the advancement of global licensing and compliance work. Previously, RedotPay completed a $40 million Series A financing round in March of this year, led by Lightspeed, with participation from HSG and Galaxy Ventures.

ChainCatcher news, according to the official announcement, the crypto payment platform RedotPay has completed a $40 million Series A financing round, led by Lightspeed, with participation from HSG and Galaxy Ventures, as well as institutions like DST Global Partners, Accel, and Vertex Ventures supported by Temasek.RedotPay is a blockchain technology company focused on digital currency wallets and payment solutions. Its vision is not only to provide services but also to lead a global paradigm shift in payment methods by accelerating the acceptance of cryptocurrencies in everyday transactions and payments.

Registration Link ChainCatcher news, the 2023 Hong Kong FinTech Week is confirmed to take place from October 30 to November 5. This conference is sponsored by the Hong Kong cryptocurrency payment platform RedotPay. Visitors can interact with RedotPay at booth EE16 in Hall 3DE from November 2 to 3, from 9 AM to 6 PM. They will learn about RedotPay's latest technology and the launch of its crypto card products.It is reported that RedotPay will host a surrounding cocktail event on November 3 at 7 PM, co-organized by the blockchain security service platform Beosin. The location is Paper Street Bar (22-26 Wanchai East Street, The Pemberton G/F). Confirmed guests include Cao Bo, President of the Asia Blockchain Industry Association, among others.

ChainCatcher news, Hong Kong crypto payment platform RedotPay has announced the opening of support for USD cards, with users outside Hong Kong defaulting to apply for USD crypto Visa cards.RedotPay stated that by supporting USD cards, international transactions that do not use Hong Kong dollars can skip the conversion step between Hong Kong dollars and US dollars, further reducing transaction friction. For users in Hong Kong, HKD cards will continue to be the default application option.

ChainCatcher news, the cryptocurrency payment company RedotPay announced a strategic alliance with the blockchain security company Beosin. This initiative aims to enhance the cryptocurrency payment platform's ability to monitor and assess blockchain transactions in real-time. This marks a significant advancement for RedotPay in identifying and mitigating risks associated with cryptocurrency payment transactions and addresses.Through this collaboration, RedotPay's customers can receive timely alerts regarding transaction anomalies and comply with the stringent regulatory guidelines set forth by virtual asset service providers (VASP). Reportedly, RedotPay stated that the shared goal with Beosin remains to provide all users with a seamless, secure, and compliant cryptocurrency payment experience.

ChainCatcher news, according to official sources, Hong Kong's first locally certified Visa cryptocurrency credit card project RedotPay now fully supports Apple Pay payment method. Users can add their RedotPay card to Apple Wallet and make payments at any location with Apple Pay, Visa, and other logos.It is reported that RedotPay is a cryptocurrency payment solution that allows cardholders to use cryptocurrencies for physical transactions. RedotPay had previously supported payment platforms such as Google Pay, Alipay, and Wechat Pay.Currently, users can directly apply for and manage their RedotPay card through the RedotPay APP. The physical RedotPay card will be launched soon, at which point the RedotPay card will support global consumption and ATM withdrawals.