According to CoinMeta, stablecoin payment card issuer Redotpay stated that it will defend itself “actively” against the $470 million lawsuit filed by Binance. In a statement on Wednesday, Redotpay said it was aware of the legal proceedings initiated by Binance and would resolutely defend against all allegations. A company affiliated with Binance has filed a lawsuit against the founders of this Hong Kong-based stablecoin payment company, accusing them of transferring funds from nearly 470,000 Binance customers in a scheme that resulted in losses of nearly $473 million. Binance stated in its submitted documents that since March 2026, it discovered that Redotpay allowed and encouraged the use of Binance funds for improper purposes, including recharging Redotpay cards. A Binance spokesperson said that while Binance does not comment on ongoing lawsuits, it will seek justice through courts and other forums when necessary. Binance’s Chaintecs has also filed a lawsuit against a Redotpay affiliated company in Singapore, with a hearing scheduled for Friday.