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Binance isn’t walking away. Despite RedotPay’s expectation that the Singapore proceedings are basically done, Binance told both the court and RedotPay directly that its claims stay active.
RedotPay had anticipated Binance would drop the Singapore case after a hearing on August 7. A RedotPay spokesperson said the company plans to seek legal costs from that process. But Binance pushed back hard, making its position clear: the claims stand, the fight continues, and RedotPay’s read of the situation was wrong. The Singapore proceedings are part of a bigger legal war that now spans two jurisdictions — Singapore and Hong Kong — and involves more than $473 million in alleged damages. Not a small number. Not a case either side seems ready to settle quietly.
The Hong Kong lawsuit is the heavier blow.
Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore — all Binance-linked entities — filed a petition in Hong Kong accusing RedotPay’s co-founders of diverting more than 470,000 Binance Card users. The allegations surfaced publicly on August 5. The plaintiffs say RedotPay let users tap Binance Pay funds to top up stablecoin cards, which they claim violated the terms of a commercial agreement between the parties. The estimated damages aren’t arbitrary — the plaintiffs calculated them using a claimed lifetime customer value of $925 per user. Multiply that across 470,000-plus users and you get to the $473 million figure pretty fast. Chaintecs separately pursued related legal action in Singapore, which led directly to the August 7 hearing.
RedotPay calls the whole thing baseless.
The company said it intends to fight the allegations through the legal process and isn’t backing down. It’s worth noting that RedotPay and Binance Pay weren’t always enemies. RedotPay announced a partnership with Binance Pay back in December 2023, using the integration to boost its card services. That relationship looked like a solid business move at the time — crypto card infrastructure linking up with one of the world’s largest exchange ecosystems. But by April 3, 2026, Binance had ended the integration entirely, citing a review of its merchant collaborations. That termination came months before the lawsuits became public. Unclear exactly what triggered the review, but the timing is hard to ignore.
What the Allegations Actually Say
The core accusation is user diversion. The Binance-linked plaintiffs argue that RedotPay’s co-founders actively redirected Binance Card users toward RedotPay’s own stablecoin card top-up service, using Binance Pay funds in a way that allegedly broke the commercial agreement. That’s the crux of the Hong Kong case. The $925-per-user lifetime value figure is how the plaintiffs arrived at their massive damages estimate — and that math is probably going to be one of the most contested points in the entire litigation.
Stablecoin card products have grown fast across Asia and other emerging markets, and the competition for user bases in this space is fierce. A user base of 470,000 card holders is genuinely significant. Losing that traffic — or allegedly having it redirected — represents real commercial damage if the plaintiffs can prove their case. Whether RedotPay’s actions actually crossed a legal line depends heavily on how the commercial agreement was written and what it specifically allowed or prohibited.
Two Jurisdictions, One Messy Fight
Running parallel legal proceedings in Hong Kong and Singapore adds layers of complexity. Different courts, different procedural rules, different timelines. Binance’s decision to keep the Singapore case alive — rather than consolidate everything in Hong Kong — seems deliberate. It keeps pressure on RedotPay across multiple fronts simultaneously. Legal costs alone could be punishing for a smaller company.
RedotPay’s plan to seek legal costs from the Singapore hearing is probably the most assertive move it can make right now. If the Singapore court eventually sides with RedotPay on costs, it won’t resolve the Hong Kong case, but it’d be a small tactical win. Still, the Hong Kong proceedings are where the real money is at stake.
Both sides are dug in. Binance’s affiliated entities filed in two jurisdictions, put a $473 million figure on the table, and made clear they’re not pulling back. RedotPay is calling the claims unfounded and says it’ll defend itself fully. The partnership that launched in December 2023 is now a legal exhibit.
No resolution looks close. The August 7 Singapore hearing came and went without the dismissal RedotPay expected. Binance’s position, communicated directly to the court, was unambiguous — the claims stay live. Next steps in both Hong Kong and Singapore remain unspecified in court filings reviewed so far.
The $925-per-user damages calculation sits at the center of the Hong Kong case.
Frequently Asked Questions
What is the $473 million Binance and RedotPay lawsuit about?
Binance-linked entities Nest Trading, DistributedTechnologies, and Chaintecs Consulting Singapore filed a Hong Kong petition accusing RedotPay’s co-founders of diverting over 470,000 Binance Card users, claiming damages calculated at $925 per user.
Did Binance drop its Singapore case against RedotPay after the August 7 hearing?
No. Despite RedotPay’s expectation that Binance would drop the Singapore proceedings, Binance told both the court and RedotPay directly that its claims remain active.
