Written by Helen Partzstaff writerReviewed by Yohan Yunstaff editor

Written by Helen Partzstaff writer

Reviewed by Yohan Yunstaff editor

Binance, RedotPay clash over fate of Singapore lawsuit

Latest NewsPublishedAug 12, 2026

Amid a $473 million legal dispute, RedotPay says it anticipates Binance to end its Singapore case, while Binance says its claims remain active.

Binance and RedotPay are disputing whether a Singapore case related to their nearly $473 million Hong Kong legal battle is coming to an end.

The stablecoin payments card issuer told Cointelegraph on Tuesday that it anticipates Binance to discontinue the Singapore proceedings following a hearing on Aug. 7. “RedotPay will be seeking legal costs arising from the discontinuance of the matter from the claimant,” a spokesperson for RedotPay stated, adding that the parties would try to agree on costs.

nevertheless, Binance stated it has no plans to abandon its claims. “Reports that Binance will be withdrawing its Singapore claims are false,” a Binance spokesperson told Cointelegraph, adding that the company “is not abandoning its claims and has informed both the court and RedotPay accordingly.”

The disagreement marks the latest development in a broader legal fight between Binance-affiliated companies and RedotPay, which includes a separate Hong Kong case seeking nearly $473 million in damages.

Singapore case part of broader legal fight

Binance-linked legal action against RedotPay first made headlines on Aug. 5, when Bloomberg reported that Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore had filed a petition in Hong Kong against RedotPay’s co-founders.

The Hong Kong plaintiffs allege RedotPay diverted more than 470,000 Binance Card users by allowing Binance Pay funds to be used for stablecoin card top-ups outside the terms of a commercial agreement. They estimated damages at $472.8 million, based on a claimed lifetime customer value of $925 per user.

Chaintecs also brought related proceedings against RedotPay affiliates in Singapore, where a hearing was scheduled for Aug. 7.

RedotPay rejected what it called “unfounded allegations” against the company and its co-founders at the time, telling Cointelegraph it would defend the claims through the legal process.

RedotPay revealed its Binance Pay partnership in December 2023, allowing Binance Pay users to make direct deposits to RedotPay cards. Binance ended support for the integration as of April 3, 2026, citing a review of its merchant partners, months before the legal dispute became public.

Magazine: Fierce backlash to Ethereum’s EIP-8363 staking proposal

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

• Binance
• Court
• Singapore
• Partnerships
• Hong Kong
• Industry

More on the subject

Itaú joins Brazil tokenization pilot with OpenAssets

13 hours ago

Nate Kostar

MoneyGram expands crypto cash ramps to Solana

15 hours ago

Nate Kostar

Nasdaq to acquire LeveL Markets in push toward ‘always-on’ markets

18 hours ago

Nate Kostar

Itaú joins Brazil tokenization pilot with OpenAssets

13 hours ago

Nate Kostar

MoneyGram expands crypto cash ramps to Solana

15 hours ago

Nate Kostar

Nasdaq to acquire LeveL Markets in push toward ‘always-on’ markets

18 hours ago

Nate Kostar