RedotPay has put its planned U.S. initial public offering on hold and is now unlikely to list before 2027, pausing preparations for a deal that had surfaced publicly in February at a valuation above $4 billion and a potential raise of more than $1 billion. JPMorgan Chase, Goldman Sachs and Jefferies had been working on the offering, but the company is now dealing with legal issues while it says it is advancing compliance work and obtained a U.S. money-transmitter license this week ahead of a domestic launch. Scrutiny has centered on Binance-linked litigation in Hong Kong and Singapore seeking about $472.8 million from co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao. The claim alleges more than 470,000 users were diverted from Binance Card in breach of a March 2025 agreement and that roughly $304 million in Binance Pay funds were routed into RedotPay's ecosystem. RedotPay has rejected the allegations, said it will defend the case and maintained that operations continue as normal. Bloomberg did not identify the lawsuit as the sole reason for the IPO pause, and no finding of liability has been made.