Binance and RedotPay are offering conflicting accounts of the status of a Singapore legal proceeding linked to their wider $473 million dispute, with RedotPay expecting the case to be discontinued while Binance says its claims remain active.
A legal dispute between Binance-affiliated companies and stablecoin payments firm RedotPay has taken another turn after the two sides disagreed over what happened to related proceedings in Singapore.
RedotPay said it expects Binance to discontinue the Singapore proceedings following an Aug. 7 hearing. Binance, however, rejected reports that it is withdrawing its claims and said the company has informed both the court and RedotPay that its claims remain active.
The Singapore proceedings are separate from a broader legal action in Hong Kong, where Binance-affiliated companies are seeking approximately $472.8 million in damages from RedotPay's co-founders.
Binance Rejects Claims That Singapore Case Is Ending
RedotPay said following the Aug. 7 hearing that it expected the Singapore matter to be discontinued and that it would seek legal costs associated with the proceedings.
Binance gave a different account.
A Binance spokesperson said reports that the exchange would withdraw its Singapore claims were false, adding that Binance was not abandoning its claims and had informed both RedotPay and the court accordingly.
The conflicting statements leave the precise status of the Singapore proceedings unclear, making the court record an important source for determining what procedural steps have actually been taken.
The Singapore Judiciary provides an official hearing-list service for checking court proceedings and hearing information. Singapore Courts hearing information
Dispute Is Connected to a Larger $473 Million Case
The Singapore proceedings form part of a wider legal conflict involving Binance-linked entities and RedotPay.
The broader Hong Kong case was filed by Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore against RedotPay's co-founders.
The plaintiffs allege that RedotPay breached commercial arrangements by allowing Binance Pay funds to be used for RedotPay card top-ups and by diverting Binance Card users toward its competing stablecoin card service.
The plaintiffs estimate that more than 470,000 users were affected and are seeking approximately $472.8 million in damages.
RedotPay has rejected the allegations and said it would defend itself through the appropriate legal process.
The claims remain allegations and have not been established as facts by a final court judgment.
How the Binance and RedotPay Relationship Started
The companies previously had a commercial relationship involving Binance Pay and RedotPay's card infrastructure.
RedotPay announced its Binance Pay integration in December 2023, allowing Binance Pay users to make deposits to RedotPay cards.
The relationship later ended, with Binance discontinuing support for the integration in April 2026.
The subsequent legal dispute centers on how Binance Pay funds were allegedly used within RedotPay's ecosystem and whether those activities violated the terms of the parties' commercial arrangements.
Binance's allegations focus in part on the use of Binance Pay funds for RedotPay card top-ups and the alleged movement of Binance Card users toward RedotPay.
RedotPay disputes the allegations.
Why the Singapore Proceedings Matter
The Singapore case adds another legal jurisdiction to an already significant dispute.
Singapore is an important center for financial services and digital-asset businesses in Asia, making proceedings involving major crypto companies particularly relevant to the region's blockchain and payments industry.
The dispute also illustrates the growing legal complexity surrounding stablecoin payment platforms and crypto-card businesses.
As companies combine stablecoins, payment cards, digital wallets and traditional financial infrastructure, commercial agreements can involve multiple jurisdictions and different types of financial services.
The Binance-RedotPay dispute could therefore have implications beyond the two companies if the underlying contractual issues lead to further court decisions.
RedotPay Faces Allegations Over User Diversion
At the center of the broader Hong Kong dispute is Binance's allegation that RedotPay diverted hundreds of thousands of Binance Card users to its own competing card product.
The plaintiffs reportedly calculated the claimed damages using an estimated lifetime customer value of $925 per user.
That calculation produced the approximately $472.8 million damages figure.
RedotPay has rejected the allegations and maintains that it will defend itself in the legal process.
The size of the claim makes the case one of the more significant commercial disputes involving a crypto payments company in 2026.
What Happens Next?
The immediate question is whether the Singapore proceedings will formally be discontinued or whether Binance will continue pursuing claims there.
The conflicting statements from the two companies mean that the next procedural filing or court update could provide greater clarity.
Meanwhile, the broader Hong Kong dispute remains separate and continues to involve the allegations surrounding Binance Card users, Binance Pay funds and RedotPay's card business.
Neither the Singapore proceedings nor the Hong Kong allegations should be treated as a final determination of liability.
Binance and RedotPay Legal Battle Continues
The disagreement over the Singapore case adds another layer to the ongoing legal battle between Binance-affiliated companies and RedotPay.
RedotPay says it expects the Singapore matter to be discontinued and intends to seek legal costs, while Binance says reports that it is withdrawing its claims are false.
The broader dispute involves approximately $473 million in claimed damages and allegations that RedotPay breached commercial arrangements and diverted Binance users.
With both sides presenting different accounts of the Singapore proceedings, further court filings will likely be important in determining the next stage of the case.
