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Where does RedotPay stand in its U.S. IPO plans?

RedotPay said it has completed its financial audit as part of its U.S. IPO process and is continuing preparations for the offering with its partners. While the company rejected suggestions that the listing has been pushed back, it did not provide a firm date for its market debut.

The statement came after a Bloomberg report in August said the U.S. listing could be delayed beyond this year because of regulatory approvals and legal issues. The report also said the possible stock market debut could take place in 2027 or later.

How did the company respond to delay claims?

A company spokesperson told CoinDesk by email that the IPO had not been delayed and that RedotPay was continuing to work with its partners on the listing process. Even so, the company did not announce a new timetable for the planned debut.

What do the numbers say about the company’s outlook?

According to a source close to the matter, RedotPay is seeking a valuation of more than $5 billion. The same source said the company hit a record in transaction volume in the second quarter and that its operating margin rose to above 50%; however, detailed financial data supporting those figures has not been made public.

  • Target valuation: above $5 billion
  • Second-quarter transaction volume: record high
  • Operating margin: above 50%

Completing the audit is seen as an important milestone in the company’s path toward the capital markets. Still, with key financial details undisclosed, investors are likely to want more information on its revenue structure and growth pace.

Why are crypto IPO plans moving cautiously?

IPO plans across the crypto sector have recently been moving more slowly. According to previous CoinDesk reports, Payward, the parent company of Kraken; Ethereum software developer Consensys; hardware wallet maker Ledger; and asset manager Grayscale have all postponed potential listings because of weaker market conditions.

That backdrop helps explain why RedotPay is taking a cautious approach to timing despite completing its audit. The company’s next step is expected to become clearer depending on regulatory processes and market conditions.

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