RedotPay weighs confidential US IPO filing by year-end

IPO filing and pre-IPO round

JPMorgan, Goldman Sachs, Jefferies and Barclays are reportedly working on the proposed listing, crypto.news reported. Barclays declined to comment on its reported role. RedotPay has not announced a listing venue, share price, offering size or expected trading date.

The $4bn-$5bn range applies to the pre-IPO funding round under discussion, not the IPO itself or a closed deal. Neither the transaction nor the filing timetable is final, people familiar with the matter told Bloomberg. The range is a target from ongoing talks, not a completed result.

In February, RedotPay explored a New York Stock Exchange listing that could raise more than $1bn at a valuation above $4bn, with JPMorgan, Goldman Sachs and Jefferies reportedly involved. The latest report adds Barclays to the bank group.

A confidential filing lets the SEC review draft registration documents before they become public. A public filing would still have to follow before any shares trade. RedotPay declined to comment, Cointelegraph reported.

What RedotPay has disclosed

RedotPay's website lists more than 9 million users, operations in over 100 countries and $12bn in annualized payment volume, CoinGape reported. The company said on 20 August it had more than 8 million users, up from 6 million in November 2025. It reported about $180m in annualized revenue and around $14bn in annualized payment volume, and described the business as profitable.

The website's $12bn payment volume differs from the $14bn August figure. The company has not explained the discrepancy on the pages reviewed, CoinGape reported. Paymentscan data showed $410.5m in stablecoin card payment volume over a recent 30-day period, a 30-day card figure rather than annualized payment volume.

RedotPay employs about 280 people worldwide, crypto.news reported. Grafa reported revenue rose more than 50% year on year in the first three quarters of 2026 and that operating profit margin exceeded 50%.

Binance lawsuit and IPO timing

In August, Binance-affiliated companies sued RedotPay's founders, seeking nearly $473m in damages, crypto.news reported. The plaintiffs allege the founders used confidential information to build a competing payments business and divert customers. The claim says more than 470,000 former Binance Card customers moved to RedotPay. RedotPay denied the allegations and said it would vigorously defend all claims.

Bloomberg reported in August that RedotPay had delayed its US listing amid regulatory hurdles and the Binance dispute. RedotPay disputed that account. "There has been no deferral of our IPO," a company spokesperson said, adding that it was "continuing to work with our partners on the IPO process."

In September, the company said it had completed a financial audit and a separate review of its anti-money laundering and counterterrorist financing controls, crypto.news reported. It did not provide a date for the proposed offering. RedotPay obtained a US money transmitter license and was preparing to launch products in the country, a spokesperson said.