PayPay, 40% Owner of Binance Japan, Targets $1.1B Nasdaq IPO
PayPay, the SoftBank-backed payments company that holds about 40% of Binance Japan, is moving toward a Nasdaq IPO with plans to raise roughly $1.1 billion and seek a valuation north of $10 billion. The proposed offering would mark a major step for the Japanese fintech, letting it tap international investor demand as it scales payments, merchant services and related digital initiatives.
A successful listing would provide liquidity for existing shareholders and fresh capital for expansion, while putting a spotlight on the overlap between payments and crypto exposure in Japan. Markets will be watching the company’s filing details and timing; the IPO could influence investor appetite for large fintech names and shape conversations about regulatory scrutiny around crypto-linked business lines.