Stablecoin card spending crosses $10.9B
Stablecoin cards have processed more than $10.9 billion, while RedotPay forecasts annual spending could reach $50 billion by 2028.
RedotPay
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Stablecoin card spending could reach $50B annually by 2028: RedotPay
Stablecoin card spending has crossed $10.9 billion in cumulative volume as RedotPay projected that annual spending through the products could quadruple to $50 billion by 2028. RedotPay said in an Aug. 25 blog post that the industry recorded more than…
RedotPay wanted a $1B IPO, but they got a Binance lawsuit instead!
Affiliates have sued the stablecoin firm over use of confidential information.
AMBCrypto•Samyukhtha L KM15 Aug
RedotPay delays US IPO plans amid regulatory hurdles
RedotPay's IPO delay highlights the critical need for fintechs to prioritize regulatory compliance alongside growth to succeed in US markets.
CryptoBriefing•Editorial Team14 Aug
RedotPay US IPO delayed as $473M Binance lawsuit adds pressure
RedotPay has reportedly delayed a planned US initial public offering that could raise more than $1 billion as the Hong Kong stablecoin payments company works through regulatory approvals and legal disputes while preparing to enter the US market. Bloomberg reported…
RedotPay said to put $1 billion U.S. IPO plan on hold: Bloomberg
CoinDesk•Olivier Acuna14 Aug
RedotPay US IPO delayed amid regulatory, legal hurdles: Report
RedotPay’s US IPO has reportedly been delayed as it seeks regulatory approvals, while the company says it secured a US money transmitter license.
Cointelegraph•Cointelegraph by Helen Partz14 Aug
Binance rejects claim it will withdraw Singapore case against RedotPay
Binance and RedotPay have given conflicting accounts of whether Singapore proceedings linked to their nearly $473 million legal dispute are being discontinued following an Aug. 7 court hearing. Cointelegraph reported on Tuesday that RedotPay expects Binance to discontinue the Singapore…
Binance, RedotPay clash over fate of Singapore lawsuit
Amid a $473 million legal dispute, RedotPay says it expects Binance to end its Singapore case, while Binance says its claims remain active.
Cointelegraph•Cointelegraph by Helen Partz12 Aug
How a crypto startup quietly siphoned 470,000 Binance users to build a $4 billion card empire
Binance-affiliated entities filed a Hong Kong petition against RedotPay's founders, alleging the payment startup used its partnership with Binance to divert more than 470,000 Binance Card customers into its own competing stablecoin card. As Bloomberg News reported, Binance claims $472.8 million in losses, built on an estimated $925 lifetime value per customer, and says RedotPay […]
CryptoSlate•Gino Matos6 AugA
Crypto exchange Binance sues RedotPay over 470,000 diverted users, claims $472.8M in losses
Binance's legal battle with RedotPay highlights the growing value of crypto payment ecosystems.
AMBCrypto•Muriuki Lazaro6 Aug
Crypto firm RedotPay says it will defend itself ‘vigorously’ against Binance lawsuit
CoinDesk•Olivier Acuna5 Aug
Binance files $473M lawsuit against RedotPay over alleged user diversion
Binance has sued RedotPay and its co-founders for nearly $473 million, alleging the company diverted more than 470,000 Binance Card users in breach of a commercial agreement. Bloomberg, citing a Hong Kong court filing it obtained, reported on Wednesday that…
Binance Affiliates Sue RedotPay Founders for Nearly $473 Million
A $473 million lawsuit has put RedotPay under pressure as Binance affiliates alleged that the firm breached a commercial agreement.
$473 Million Binance Lawsuit Targets Card Top-Ups RedotPay Pitched to Investors
Binance wants $473 million over RedotPay card top-ups it says were banned, the same feature RedotPay pitched to investors.
BeInCrypto•Lockridge Okoth5 Aug
Binance sues RedotPay over alleged $473 million user losses: Report
Binance-linked companies sued RedotPay, accusing it of diverting more than 470,000 Binance Card users under a commercial deal and seeking nearly $473 million in damages.
Cointelegraph•Cointelegraph by Helen Partz5 Aug
Binance affiliates sue RedotPay founders over alleged customer diversion
The lawsuit could prompt stricter global regulations on crypto payment platforms, impacting their operations and compliance requirements.
CryptoBriefing•Editorial Team5 Aug
Crypto Card Volume Hits $748.7M in July, a Fifth Straight Monthly Gain: Paymentscan
Spending on crypto payment cards jumped 19% to a monthly record, with RedotPay handling more than half the volume as flows into stablecoin neobanks crossed $1 billion for the first time.
The Defiant•The Defiant Team3 Aug
The new XRP card is a margin loan with a Visa logo
RedotPay’s RLUSD card lets 8 million users spend against their XRP without selling it: pledge coins at 50% loan-to-value, borrow in Ripple’s stablecoin, swipe anywhere Visa works. It is being sold as convenience. It is, mechanically, collateralized leverage on a…
KASTxyz surpasses RedotPay with $14M in daily crypto card spending as sector hits record
KASTxyz processed $14M in daily crypto card transactions on July 20, overtaking RedotPay as total sector spending hit a record $36.82 million.
CryptoBriefing•Editorial Team22 Jul