RedotPay says financial audit is done and denies its U.S. IPO has been delayed
RedotPay says it finished a financial audit required for a U.S. IPO and disputes an August report that the listing slipped to 2027 or later.
Why it matters
A completed audit is a required document in a U.S. IPO prospectus, so the filing moves RedotPay a step closer to listing while the actual date and valuation remain unconfirmed. It also tests how much weight a single company can put on an August report that has now been disputed by the company itself.
Where the sources disagree
Whether RedotPay's U.S. IPO has been pushed back to 2027 or later
There has been no deferral of our IPO (RedotPay spokesperson, per CoinDesk)
CoinDesk, Bitcoin Insider
Originally slated for 2026, now pushed back to at least 2027 (CryptoBriefing)
Bitcoin Insider
CoinDesk reports a RedotPay spokesperson said there has been no deferral, while CryptoBriefing reports the listing was originally slated for 2026 but has been pushed to at least 2027.
RedotPay's target valuation
Targeting a valuation above $5 billion (CoinDesk)
CoinDesk, Bitcoin Insider, Crypto.News
Initially targeted a raise of more than $1 billion at a valuation exceeding $4 billion (CryptoBriefing)
Bitcoin Insider
CoinDesk reports a valuation target above $5 billion, while CryptoBriefing reports an initial target of a valuation exceeding $4 billion and a raise of more than $1 billion.
Figures that do not reconcile
Found by comparing the numbers in the reports automatically. They are differences, not yet confirmed to be about the same thing.
size of the raise (valuation)
$1 billion
Bitcoin Insider
$5 billion
Crypto.News
Bitcoin Insider reports $1 billion, Crypto.News reports $5 billion (80% apart).
Key facts
RedotPay said it completed a financial audit as part of its preparation for a U.S. IPO.
Reported by CoinDesk
RedotPay also completed a separate review of its anti-money-laundering and counter-terrorist-financing controls.
Reported by CoinDesk
Both reviews were conducted by Big Four firms that RedotPay did not name.
Reported by CoinDesk
A RedotPay spokesperson said the IPO has not been deferred.
Disputed figureReported by CoinDesk
Michael Gao, RedotPay CEO and co-founder, said the audits were undertaken to build confidence in the company's financial reporting and compliance standards and form part of its preparation for taking the company public.
Reported by CoinDesk
What happened
RedotPay, a Hong Kong stablecoin payments company, said on Monday it had completed a financial audit and a separate review of its anti-money-laundering and counter-terrorist-financing controls, both carried out by Big Four firms it did not name. CEO and co-founder Michael Gao said the work was taken on to build confidence in the company's financial reporting and compliance standards and forms part of its preparation for going public. A spokesperson told CoinDesk that there has been no deferral of the IPO, contradicting an August report, cited by CryptoBriefing, that legal and regulatory issues had pushed a listing into 2027 or later. The company did not give a date for the offering. On valuation, CoinDesk reported a person familiar with the company said RedotPay is targeting a value above $5 billion, while CryptoBriefing reported the company had initially aimed to raise more than $1 billion at a valuation exceeding $4 billion, with JPMorgan Chase, Goldman Sachs and Jefferies said to be advising. RedotPay said it had 8.5 million users as of July.
How the story developed
- First report
First report by CoinDesk
RedotPay completes financial audit as it presses ahead with U.S. IPO plans
- Official statement
RedotPay announces completed financial audit and separate AML/CFT review
The company said both were carried out by unnamed Big Four firms and form part of its IPO preparation.
- Official statement
RedotPay spokesperson denies the IPO has been deferred
The denial contradicts an August report that legal and regulatory issues had pushed a listing into 2027 or later.
- Update
Bitcoin Insider flags the disagreement between CoinDesk and CryptoBriefing
The aggregator set out the conflicting accounts of IPO timing and target valuation, and said the audit and 8.5 million user figure can be treated as established.
- Independent corroboration
Independently corroborated by Crypto.News
RedotPay eyes $5 billion valuation as US IPO preparations continue
- Update
Crypto.News reports RedotPay's preparations are moving ahead without a listing date
The outlet said the company's own comments are the clearest sign yet that the U.S. IPO process remains active after the August reports.
How coverage built up
Independent sources over time, counted the way the consensus panel counts them: a republication of a wire story does not move the line.
- 28 Sept 2026, 07:50 UTC: CoinDesk — 1 independent source, 1 reports
- 28 Sept 2026, 08:09 UTC: Bitcoin Insider — 2 independent sources, 2 reports
- 28 Sept 2026, 09:36 UTC: Crypto.News — 3 independent sources, 3 reports
Affected entities
Also mentioned: Goldman Sachs, Visa, Ethereum, U.S. Securities and Exchange Commission, Binance, Grayscale
Original sources
| Publisher | Report | Role | Published |
|---|---|---|---|
| CoinDesk Crypto media | RedotPay completes financial audit as it presses ahead with U.S. IPO plans | Original | |
| Crypto.News Crypto media | RedotPay eyes $5 billion valuation as US IPO preparations continue | Independent | |
| Bitcoin Insider Aggregator | RedotPay: Is Its US IPO Delayed to 2027 or Not? | Syndicated |
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