RedotPay completes financial audit as it presses ahead with U.S. IPO plans
Stablecoin payments firm RedotPay has completed financial and compliance audits as part of its preparations for a U.S. IPO. Despite previous reports of delays, the company maintains that it is actively working toward a public listing.
Why it matters
This move highlights the ongoing efforts of cryptocurrency-related firms to integrate with traditional financial markets and regulatory frameworks.
Hong Kong-based stablecoin payments company RedotPay has completed a financial audit, a required step toward a U.S. initial public offering, as it pushes ahead with plans to take the business public, it said in a press release Monday.
The company also completed a separate review of its anti-money-laundering and counter-terrorist-financing controls. Both were conducted by Big Four firms, which RedotPay did not name. A U.S. IPO prospectus must include audited financial statements; the compliance review is a separate part of the firm’s preparations.
RedotPay lets users hold stablecoins in an app, spend them through a linked Visa card and send money across borders. The company said it had 8.5 million users as of July
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