PayPay, 40% owner of Binance Japan, seeks up to $1.1 billion in Nasdaq IPO. The payments firm backed by SoftBank targets a valuation above $10 billion

Japanese digital payments platform PayPay Corporation, which owns 40% of Binance Japan, has pursued a U.S. listing on Nasdaq targeting up to $1.1 billion in IPO proceeds and a valuation above $10 billion, positioning it as one of the largest U.S. listings by a Japanese firm in recent years. Backed and controlled by SoftBank Group, PayPay ultimately priced its American Depositary Shares (ADSs) at $16 each, slightly below its marketed range but still raising about $880 million and implying an initial market capitalization of roughly $10.7–12.1 billion, with trading beginning under the ticker PAYP. PayPay operates Japan’s leading QR code–based mobile payments app and a broader digital finance ecosystem spanning payments, cards, banking and securities, serving more than 70 million users and processing over $100 billion in transaction volume. The IPO, which had originally been slated for late 2025 before regulatory delays, marks SoftBank’s latest major monetization of a portfolio company after Arm’s 2023 listing, and includes a significant secondary sale by a SoftBank-controlled fund. Strategically, PayPay’s move to tap U.S. public markets underscores growing global investor interest in profitable Asian fintechs and may indirectly shape perceptions of Binance Japan’s regulatory-licensed operations, given PayPay’s substantial minority stake in that platform.

✨ AI-generated background, compiled from web sources — not editorial content.

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• PayPay Announces Pricing of Initial Public Offering | March 12, 2026 ... (about.paypay.ne.jp)
• SoftBank-Backed PayPay Shares Jump 14% After $880 Million IPO (bloomberg.com)
• The IPO Buzz: PayPay (PAYP) Prices IPO at $16 – $1 Below Range (iposcoop.com)

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