RedotPay, a Hong Kong-based crypto payments company that issues stablecoin payment cards, has acquired BTCBOX Co., Ltd., a crypto asset exchange registered with Japan's regulators. RedotPay disclosed the deal in a notice to users in Japan, which the Japanese crypto news site NADA NEWS reported was updated on October 20, 2026. The acquisition was widely reported on October 23 and 24.
The price and the size of the stake were not disclosed. RedotPay said it plans to provide services that comply with Japanese law through BTCBOX, and that it will give the exchange financial and technical support so that those services can launch early.
The purchase came with an admission. In the same notice, RedotPay said its group does not hold Japan's crypto exchange registration or other required registrations, and that its current services for Japanese residents do not meet the requirements of Japanese law.
What changes for RedotPay users in Japan
RedotPay has stopped accepting new members in Japan and removed its app from the Japanese versions of Apple's App Store and Google Play, according to the notice. Services for existing users in Japan will be restricted in stages and eventually ended, with details to be announced later. The notice applies only to residents of Japan.
NADA NEWS reported that RedotPay chose BTCBOX because of its operating track record and its team. RedotPay has not said when a Japan-compliant service will start or what it will offer. Dealroom noted that no timetable for a RedotPay-branded service in Japan was disclosed.
Users with questions can contact RedotPay's support team through the app or its website, the notice says. It does not say what will happen to balances held by Japanese users when the current service ends, or whether those users will be able to move to a BTCBOX account.
Dealroom also pointed to the risk in the plan: BTCBOX had only recently resumed service after its outage earlier in the year, and RedotPay has given no detail on how the exchange's systems or staff will be combined with its own.
What BTCBOX is
BTCBOX was founded in 2014 and registered as a crypto asset exchange operator in September 2017, NADA NEWS reported. Registration with Japan's Financial Services Agency is required to run a crypto exchange for Japanese customers; Dealroom reported that the agency listed 27 registered crypto asset exchange operators as of September 2026.
The exchange has had a difficult year. BTCBOX suspended all services at the end of January 2026 after a leak of customer data. On July 31 it announced security upgrades, including passkey authentication, and began restoring services in stages from August 3. Its ownership, funding and customer numbers have not been disclosed.
Buying an already registered operator is a known route into Japan for foreign crypto companies. Dealroom pointed out that Binance entered the Japanese market in 2022 by acquiring the exchange Sakura Exchange BitCoin.
RedotPay's year
RedotPay describes itself as the world's largest stablecoin payment card issuer, CoinDesk reported. Dealroom lists the company as having raised $194 million. In August 2026, CoinDesk reported that RedotPay was planning a US listing that could raise more than $1 billion at a potential valuation of $4 billion.
The company is also in a legal fight with Binance. In August, Binance affiliates sued RedotPay's founders in Hong Kong, alleging that about 470,000 Binance customers were diverted to RedotPay and that the diversion caused losses of nearly $473 million, CoinDesk reported. A Binance unit also sued RedotPay affiliates in Singapore.
"RedotPay is aware of legal proceedings initiated by Binance and will vigorously defend all claims," the company said in a statement at the time, adding that it rejected the allegations against it and its co-founders. Neither RedotPay nor BTCBOX has linked the Japan deal to the dispute.
