RedotPay Says U.S. IPO Preparations Continue After Audits

RedotPay says it has completed a financial audit and a separate review of its anti-money-laundering and counterterrorist-financing controls as it continues preparations for a potential U.S. initial public offering. The company says the IPO has not been deferred, but has provided no filing or listing timetable. The Hong Kong-based stablecoin payments company said Big Four firms conducted the two reviews, without identifying them. RedotPay described the work as part of its public-market preparations. The financial audit is a step toward preparing audited statements for a possible IPO prospectus; completing it does not establish that an offering will proceed. A company spokesperson said RedotPay continues working with partners on the IPO process and denied that it had been delayed. The statement follows earlier reports questioning the timing of a possible listing. The company has not announced when it might file or when shares could begin trading. An unnamed person familiar with the matter said RedotPay is seeking a valuation above $5 billion.