FinanceRedotPay Finalizes Financial Audit as It Moves Forward with U.S. IPO
The stablecoin payment firm announced that the audit was essential for its public listing ambitions, countering claims made in an August report about delays.
By Will Canny|Edited by Stephen AlpherSep 28, 2026, 3:50 a.m. EDT2 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on
RedotPay Finalizes Financial Audit as It Moves Forward with U.S. IPO. (CoinDesk archives)Summary- RedotPay has completed a financial audit as part of its IPO preparation, fulfilling a requirement for U.S. listings.
- A representative confirmed that the IPO is still on track, opposing an August report suggesting delays due to legal issues.
- Sources indicate the company aims for a valuation exceeding $5 billion.
The Hong Kong-based stablecoin payment company RedotPay has announced the completion of its financial audit, a crucial milestone in its journey toward a U.S. initial public offering (IPO). The company made this announcement in a press release on Monday.
Additionally, RedotPay has finished a separate evaluation of its anti-money laundering and counter-terrorism financing measures. Both audits were carried out by unnamed Big Four firms. For a U.S. IPO, audited financial statements are mandatory, while the compliance review is an essential aspect of the company’s overall preparation.
RedotPay provides users with the ability to manage stablecoins through an app, utilize them via a linked Visa card, and facilitate international money transfers. As of July, the company reported having 8.5 million users.
Michael Gao, CEO and co-founder of RedotPay, emphasized the importance of these audits in enhancing confidence and trust in the company's financial reporting and compliance. “They also form part of our preparation for taking the company public,” he stated in an email.
This announcement represents the most explicit confirmation of RedotPay's IPO ambitions, following an August report by Bloomberg that claimed the company had postponed its U.S. listing while navigating regulatory challenges and legal matters, potentially delaying the IPO until 2027 or later.
A spokesperson from RedotPay clarified, “There has been no deferral of our IPO. We are continuing to work with our partners on the IPO process.” However, the company did not provide a specific date for the listing.
According to a source familiar with the situation, RedotPay is aiming for a valuation above $5 billion. The company achieved record transaction volumes in the second quarter, with an operating margin surpassing 50%, although specific financial figures were not disclosed.
RedotPay's move towards a public listing comes at a time when several other cryptocurrency firms have postponed their IPO plans. Companies like Kraken’s parent Payward, Ethereum developer Consensys, hardware wallet manufacturer Ledger, and asset management firm Grayscale have all delayed their IPO plans in light of challenging market conditions, as reported by CoinDesk.
Read more: Kraken parent Payward delays IPO to second quarter of 2027 at earliest
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By CoinDesk ResearchSep 15, 2026Commissioned byRippleAs stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
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