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Binance and RedotPay are giving conflicting accounts of whether a Singapore lawsuit tied to their wider payments dispute is being discontinued after an August 7 court hearing.
RedotPay says it expects the proceedings to end and plans to seek legal costs. Binance rejects that account, saying its Singapore claims remain active and that it has informed both the court and RedotPay that it is not abandoning them.
RedotPay Expects Chaintecs Case to be Discontinued
The Singapore proceedings were brought by Binance-linked Chaintecs Consulting Singapore against RedotPay affiliates.
Following the August 7 hearing, a RedotPay spokesperson said the company understands that Chaintecs intends to discontinue the proceedings. RedotPay also said it would seek reimbursement of its legal costs and that the parties would first try to agree on the amount payable.
RedotPay’s statement does not say that discontinuance has already been formally completed. That distinction became central after Binance publicly rejected reports that it was withdrawing the claims.
Binance Says Singapore Claims Remain Active
Binance said reports that it plans to withdraw its Singapore claims are false. The exchange said it is maintaining its claims and has notified both the court and RedotPay. However, neither company has clarified what followed the August 7 hearing.
The result is an unusual dispute over the status of the Singapore proceedings themselves, separate from the merits of the companies’ broader commercial fight.
Hong Kong Case Seeks $472.8M Over 470,000 Customers
The Singapore proceedings run alongside a Hong Kong case brought by Binance-linked Nest Trading, DistributedTechnologies and Chaintecs against RedotPay’s co-founders.
The plaintiffs allege RedotPay diverted more than 470,000 Binance Card customers by allowing Binance Pay funds to be used for RedotPay Card top-ups outside the terms of their commercial agreement.
They value each allegedly diverted customer at $925 and are seeking approximately $472.8 million in damages. RedotPay rejects the Hong Kong allegations and has said it will vigorously defend the claims. Binance ended Binance Pay support on RedotPay effective April 3, 2026.
The immediate issue in Singapore remains unresolved publicly: RedotPay expects Chaintecs to discontinue the proceedings, while Binance maintains that its claims are still active.
