Binance-affiliated companies have filed a lawsuit against RedotPay in a Hong Kong court, accusing the crypto payments firm of diverting more than 470,000 users away from Binance Card in breach of a partnership agreement, Moneyweb reported.

The petition names Binance-linked entities Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore as plaintiffs.

It targets RedotPay co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao, seeking close to US$473 million in damages.

Binance’s filing describes the alleged conduct as a “fraudulent scheme.”

Dispute centres on Binance Pay and card funding arrangements

Binance’s filing states that RedotPay allowed customers to fund its payment cards using balances held in their Binance Pay accounts.

The exchange said this activity should have remained separate under the terms agreed between the two companies.

It calculated the damages figure using an estimated lifetime value of $925 per diverted user, according to the filing.

A related petition brought by Chaintecs Consulting Singapore against RedotPay affiliates is due for its first hearing in Singapore on Friday (7 August).

The dispute follows Binance’s move in April 2026 to disable Binance Pay on RedotPay’s platform. At the time, Binance attributed the decision to standard checks on its merchant partners.

RedotPay challenges allegations as legal dispute continues

RedotPay has rejected the claims.

In a statement posted to its website on 5 August, the company said the case does not change how it operates day to day and that it intends to contest every allegation through the courts.

It added that it would not discuss the specifics of the dispute further while the matter is before a judge.

The company also highlighted its recent performance, saying its customer base has surpassed 8 million users after roughly a third of growth over the past six months.

Card spending reached a new monthly high in July, while the company said it remains the largest crypto card provider by volume, citing rankings from data tracker Paymentscan.

For Southeast Asia’s fintech sector, the case highlights how commercial data-sharing arrangements between exchanges and card issuers can carry legal exposure when partnerships break down.

It also draws attention to how stablecoin-linked payment cards, an increasingly crowded product category, attract and retain users.

 

 

Featured image credit: Edited by Fintech News Hong Kong, based on image by fabrikasimf via Magnific