Redotpay

Tracked crypto card spending more than tripled over the past year, with dollar-backed stablecoins funding most recorded transactions. USDC and USDT are increasingly being used for groceries, ride-hailing, food delivery and subscriptions rather than only large crypto off-ramps.

Binance has sued Hong Kong-based RedotPay and its founders, alleging the stablecoin payments company diverted about 470,000 users and caused nearly $473 million in losses. RedotPay has rejected the claims as unfounded and says it will defend itself vigorously.