Holding a 40% stake in Binance Japan! SoftBank's "Little Golden Chicken" PayPay plans to go public in the US and raise $1.1 billion

According to Reuters, Japan’s mobile payment giant PayPay, supported by SoftBank Group Corp and holding a 40% stake in Binance Japan, is set to conduct its first U.S. initial public offering (IPO), with a fundraising target of up to $1.1 billion.
The report states that PayPay and existing shareholders will issue a total of 55 million American Depositary Shares (ADS), with a price range of $17 to $20 per share. If issued at the upper limit, PayPay’s valuation will exceed $10 billion.
As Japanese society gradually breaks away from the traditional cash-based consumption habits and accelerates its cashless transformation in recent years, PayPay has risen to become Japan’s largest mobile payment leader, currently boasting over 70 million registered users. Through the PayPay app, users can not only scan codes for in-store payments but also handle daily transfers and manage digital wallet balances, successfully integrating into Japanese consumers’ daily lives.
Originally scheduled to go public on Nasdaq under the ticker “PAYP” before Monday’s opening, Reuters revealed that due to the turmoil caused by the Iran situation and the resulting volatility in global financial markets, PayPay had to delay its listing plans.
Amid heightened stock market volatility and increasing geopolitical risks, this IPO is seen as a “barometer” for the fintech industry’s investor appetite for new listings. If successful, PayPay will not only become one of the largest Japanese companies to list in the U.S. in recent years but also add another digital financial asset to SoftBank’s strategic portfolio.