RedotPay, which describes itself because the world’s largest stablecoin cost card issuer, advised CoinDesk Wednesday it’s going to defend itself “vigorously” in opposition to a $470 million Binance lawsuit alleging it poached 470,000 customers.
“RedotPay is conscious of authorized proceedings initiated by Binance and can vigorously defend all claims,” the agency mentioned in an emailed assertion. “The Firm rejects the unfounded allegations made in opposition to it and its co-founders.”
Binance associates filed a lawsuit in opposition to the founders of the Hong Kong-based stablecoin funds firm, alleging they diverted almost half one million Binance clients to the competing platform in a scheme that brought on almost $473 million in losses, in keeping with a Bloomberg report.
“Since March 2026, the Binance Group has found that RedotPay Group had been permitting and inspiring Binance Pay funds for use, with out segregation, for the prohibited use inside RedotPay, together with card top-ups for RedotPay Card,” Binance mentioned within the submitting, in keeping with Bloomberg.
“Whereas Binance doesn’t touch upon ongoing litigation, the place obligatory we’ll use courts and different boards to pursue what is correct,” a spokesperson advised CoinDesk through e-mail.