Binance and RedotPay dispute status of Singapore case amid $473M legal battle
RedotPay says it expects the Singapore proceedings to be discontinued and plans to seek legal costs, while Binance insists its claims remain active and says it has informed both the court and RedotPay.
Binance and stablecoin payments company RedotPay have offered conflicting accounts of the status of legal proceedings in Singapore connected to a broader dispute involving nearly $473 million in claimed damages.
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RedotPay said it expects the Singapore matter to be discontinued following an Aug. 7 court hearing and intends to seek reimbursement of legal costs from the claimant.
“RedotPay will be seeking legal costs arising from the discontinuance of the matter from the claimant,” a company spokesperson told Cointelegraph, adding that the parties would first attempt to reach an agreement over costs.
Binance, however, rejected the suggestion that it intends to withdraw its claims.
“Reports that Binance will be withdrawing its Singapore claims are false,” a Binance spokesperson said. The company added that it “is not abandoning its claims and has informed both the court and RedotPay accordingly.”
The conflicting statements leave the procedural status of the Singapore dispute unclear. A Singapore Courts record confirms that a case conference involving Chaintecs Consulting Singapore and several RedotPay-related
entities was scheduled for Aug. 7 at the Supreme Court. The public listing identifies the matter as a passing-off case and does not provide an outcome from the hearing.
Singapore proceedings linked to wider Hong Kong dispute
The disagreement comes as Binance-affiliated companies pursue a separate legal case in Hong Kong involving RedotPay and its co-founders.
Bloomberg reported on Aug. 5 that Binance-linked entities Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore had filed a petition in Hong Kong against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao.
According to the reported court filing, the plaintiffs allege that RedotPay diverted more than 470,000 Binance Card customers by allowing users to fund RedotPay stablecoin payment cards using Binance Pay outside the permitted scope of a commercial agreement.
The plaintiffs estimated their losses at $472.8 million, using a claimed lifetime customer value of $925 for each allegedly diverted user. The allegations remain contested and have not been established by a court.
RedotPay has rejected the allegations and said it is defending itself and its co-founders through the legal process. The company previously described the claims as unfounded and said the proceedings would not affect its
day-to-day operations.
Binance Pay relationship ended months before lawsuit surfaced
RedotPay’s commercial relationship with Binance Pay dates back to December 2023.
RedotPay announced the integration on Dec. 15, 2023, saying Binance Pay users would be able to deposit cryptocurrency directly to their RedotPay cards through a mini program available within the Binance app.
The relationship was later discontinued.
Binance announced in April 2026 that support for Binance Pay features and functionality on the RedotPay platform had ended effective April 3. Binance said the decision was made as part of its ongoing review of merchant partners but did not link the move publicly to the later litigation.
The legal dispute became public several months later, when details of the Hong Kong proceedings emerged in early August.
For now, the two companies remain divided not only over the underlying allegations but also over what happens next in Singapore. RedotPay expects the proceeding to end and plans to pursue costs, while Binance
maintains that its claims remain in place. No publicly available Singapore court record reviewed for this article establishes that the dispute has been formally discontinued.