Binance denies plans to drop RedotPay legal case in Singapore

Binance and RedotPay have provided conflicting accounts regarding whether legal proceedings in Singapore related to their ongoing dispute are being discontinued. Following an August 7 hearing, RedotPay stated it expects Binance to discontinue the proceedings and noted that the company will seek legal costs arising from the discontinuance.

Binance has denied these reports, stating that it has no plans to abandon its claims and has informed both the court and RedotPay of its position. The Singapore matter, involving Chaintecs Consulting Singapore, is part of a broader legal battle that includes a Hong Kong case. In that separate proceeding, Binance-affiliated companies are seeking approximately $472.8 million in damages, alleging that RedotPay diverted over 470,000 Binance Card users by allowing funds to be used for stablecoin card top-ups outside of their commercial agreement.