RedotPay Vows to ‘Vigorously Defend’ Binance Lawsuit Alleging User Diversion
RedotPay has pledged to "vigorously defend" claims brought by Binance-affiliated companies alleging that the crypto payments firm diverted more than 470,000 users from Binance Card, with the plaintiffs seeking nearly $473 million in damages.
"RedotPay is aware of legal proceedings initiated by Binance and will vigorously defend all claims. These proceedings have no impact on RedotPay's day-to-day operations," a RedotPay spokesperson told Cryptoprowl.
The lawsuit was filed in Hong Kong by Binance affiliates Nest Trading Ltd., DistributedTechnologies Ltd. and Chaintecs Consulting Singapore Pte against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao, according to a Bloomberg report.
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The plaintiffs allege the founders breached a commercial agreement by allowing users to fund RedotPay stablecoin payment cards through Binance Pay outside the scope of the agreement, per the report. Binance reportedly estimates damages of $472.8 million based on a claimed lifetime customer value of $925 for each user.
A related lawsuit was also filed in Singapore, with a hearing reportedly scheduled for Friday.
RedotPay rejected the allegations and said it would respond through the appropriate legal process. The company declined to comment on the specific allegations, saying the matter is now before the court.
The legal dispute comes as RedotPay says it has continued to expand rapidly. The company told Cryptoprowl that its user base has grown by more than 33% to over 8 million customers during the past six months, up from 6 million in November 2025.
RedotPay claimed it generates about $180 million in annualized revenue and processes roughly $14 billion in annualized payment volume. It also described itself as the largest crypto card program by on-chain volume, citing independent data firm Paymentscan.
Cryptoprowl reached out to Binance for comment, but had not received a response by publication.