TLDR
- RedotPay completed a financial audit as part of its U.S. IPO preparation process.
- The company also reviewed its AML and counter-terrorist-financing controls through Big Four firms.
- RedotPay denied reports that it had deferred its IPO, but gave no listing date.
- The stablecoin payments firm had 8.5 million users as of July.
- RedotPay is reportedly targeting a valuation above $5 billion for a future listing.
RedotPay has completed a financial audit for a possible U.S. initial public offering. The Hong Kong-based stablecoin payments company said the review supports its U.S. public listing work. The company also completed a separate review of its anti-money-laundering and counter-terrorist-financing controls. RedotPay said Big Four firms handled both reviews, but it did not name the firms.
RedotPay Audit Adds Market Context
A U.S. IPO prospectus must include audited financial statements. RedotPay said the financial audit supports that requirement, while the compliance review checks systems linked to financial crime controls. Chief Executive Michael Gao said the company undertook the audits to build confidence in its reporting and compliance standards. The step comes as U.S. regulators continue shaping stablecoin issuer rules for payment firms, banks, and crypto companies.
RedotPay did not give a listing date. The company said it still works with partners on the IPO process and denied that it had deferred the plan.
Its comments followed an August report that said RedotPay had slowed a U.S. listing while seeking approvals and handling legal matters. The report said a listing could happen in 2027 or later, not this year. The company’s comments also arrive as regulators review more digital asset activity. Recent tokenized asset guidance shows how officials now assess crypto products, records, and market infrastructure.
Payments Business Faces Investor Review
RedotPay lets users hold stablecoins in an app, spend through a linked Visa card, and send money across borders. The company said it had 8.5 million users as of July, giving it a large base in stablecoin payments.
A person familiar with the matter said RedotPay targets a valuation above $5 billion. The same person said transaction volume reached a record in the second quarter and operating margin exceeded 50%, without giving the figures behind those statements.
The IPO effort comes as other crypto firms slow their listing plans. Kraken parent Payward, Consensys, Ledger, and Grayscale have all pushed back prospective listings during weaker market conditions. Interest in round-the-clock settlement also keeps payment speed and compliance in focus.
RedotPay’s audit and compliance review give investors more information before any prospectus filing. The company has not confirmed when it may list, leaving its public-market path tied to approvals, legal checks, and market demand.
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