Binance affiliates and RedotPay are fighting over allegations tied to stablecoin card payments, customer access, and the use of Binance Pay funds.

CoinDesk reported that Binance has sued Hong Kong-based RedotPay and its founders, alleging that the stablecoin payment card issuer diverted about 470,000 Binance customers and caused nearly $473 million in losses. RedotPay rejected the allegations in a statement to CoinDesk, saying it would defend the claims "vigorously."

The dispute centers on how Binance Pay funds were handled inside RedotPay's card product. According to CoinDesk's account of the filings, Binance alleges that RedotPay used Binance Pay funds to top up RedotPay prepaid cards despite contractual limits. CoinDesk reported that an earlier commercial agreement began in November 2023 and ended less than six months later, followed by another agreement in March 2025 that required Binance funds to remain separate.

There is also a Singapore proceeding tied to the dispute. The Singapore Courts hearing list identifies a case named Chaintecs Consulting Singapore Pte. Ltd. v Redotpay Technology Pte Ltd & 3 Ors, with a hearing listed under case HC/OC 430/2026.

The case is notable because stablecoin card products depend on trust between exchanges, payment providers, and card issuers. For users, the important point is narrower than the dollar figure: the allegations test how clearly partner funds and customer relationships are separated when crypto payment products are built across multiple companies.