RedotPay, a crypto credit card provider, has suspended its planned US IPO that could have raised over $1 billion with a valuation exceeding $4 billion. The company, which has over 8 million users across more than 100 countries with an annualized payment volume of $12 billion, secured a money transmitter license in the US this week. Binance affiliates sued RedotPay’s founders in Hong Kong earlier this month, seeking nearly $473 million in damages. The argument is that RedotPay’s founders used confidential information from Binance to build a competing payments business and poach their users.
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