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According to CoinDesk, Hong Kong-based stablecoin payment company RedotPay announced on Monday that it has completed its financial audit and anti-money laundering and counter-terrorist financing compliance review, both conducted by Big Four accounting firms, as a necessary preparatory step for applying to launch an initial public offering (IPO) in the United States.
Odaily News: Stablecoin payment company RedotPay has completed a financial audit as part of its preparations for an initial public offering (IPO). A U.S. listing requires the submission of audited financial statements.A RedotPay spokesperson stated that the company's IPO plans have not been delayed, and that previous claims suggesting legal and regulatory issues could push the listing to 2027 or later are inconsistent with this. A person familiar with the matter said the company is targeting a valuation of over $5 billion. (CoinDesk)
According to Bloomberg, stablecoin payment company RedotPay has postponed its plans to list in the US. Sources familiar with the matter revealed that the company previously planned to complete its IPO as early as this year, but the listing timeline may now be delayed until next year or even later. RedotPay needs to obtain regulatory approval from the countries where it operates before proceeding with the IPO, and the company also faces related legal issues that remain to be addressed.