Japanese payments firm PayPay, partial owner of Binance Japan, seeks $1.1 billion IPO

PayPay, the SoftBank Corp-backed Japanese payments firm holding a 40% stake in Binance Japan, is planning to raise as much as $1.1 billion through a U.S. initial public offering on the Nasdaq, where it is expected to trade under the symbol “PAYP.” The company plans to offer 55 million American depositary shares priced between $17 and $20 each, potentially valuing PayPay, Japan's largest cashless payments provider with over 70 million users, at more than $10 billion. The IPO listing was temporarily postponed due to global market instability following an attack on Iran. This public offering tests investor appetite amid volatile markets and geopolitical risk, and a successful debut would be a significant Japanese listing in the U.S. PayPay recently deepened its involvement in crypto through a partnership with Binance Japan to integrate digital payments with cryptocurrency services.

(Source：CoinDesk)