RedotPay, which describes itself because the world’s largest stablecoin cost card issuer, advised CoinDesk Wednesday it should defend itself “vigorously” towards 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 towards it and its co-founders.”
Binance associates filed a lawsuit towards the founders of the Hong Kong-based stablecoin funds firm, alleging they diverted practically half 1,000,000 Binance clients to the competing platform in a scheme that induced practically $473 million in losses, in accordance 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 accordance with Bloomberg.
“Whereas Binance doesn’t touch upon ongoing litigation, the place mandatory we are going to use courts and different boards to pursue what is true,” a spokesperson advised CoinDesk by way of electronic mail.
