- RedotPay expects Binance to discontinue Singapore proceedings after an Aug. 7 hearing, seeking legal costs.
- Binance denies plans to withdraw its Singapore claims, calling such reports false.
- The broader legal fight includes a Hong Kong case seeking nearly $473 million in damages over alleged diversion of 470,000 Binance Card users.
- The dispute stems from a terminated partnership allowing Binance Pay funds for stablecoin card top-ups.
Binance and RedotPay publicly disagree on whether a Singapore legal case tied to their nearly $473 million Hong Kong battle is ending, following a hearing on Aug. 7. The stablecoin payments card issuer told Cointelegraph it expects Binance to discontinue the proceedings, adding that “RedotPay will be seeking legal costs arising from the discontinuance of the matter from the claimant.”
However, Binance insists it has no plans to drop its claims. “Reports that Binance will be withdrawing its Singapore claims are false,” a Binance spokesperson said, adding that the company has informed the court and RedotPay accordingly.
The disagreement marks the latest development in a broader fight, as first reported by Bloomberg. The Hong Kong plaintiffs—Nest Trading, Distributed Technologies, and Chaintecs Consulting Singapore—allege RedotPay diverted more than 470,000 Binance Card users by allowing Binance Pay funds for stablecoin card top-ups outside agreed terms, estimating damages at $472.8 million based on a lifetime customer value of $925 per user.
Consequently, Chaintecs also brought related proceedings in Singapore, where a hearing was scheduled for Aug. 7, according to the Singapore judiciary hearing list. RedotPay previously rejected the allegations as unfounded and stated it would defend through legal process.
Meanwhile, RedotPay announced its Binance Pay partnership in December 2023, per its X post, enabling direct deposits to RedotPay cards. Binance ended support for the integration on April 3, 2026, citing a merchant partner review, months before the legal dispute became public.
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