PayPay, 40% owner of Binance Japan, seeks up to $1.1 billion in Nasdaq IPO

The Nasdaq-bound payments firm backed by SoftBank targets a valuation above $10 billion. What to know : PayPay, Japan’s largest cashless payments provider backed by SoftBank, is seeking to raise up to $1.1 billion in a U.S. IPO that could value the company at more than $10 billion. In October, PayPay acquired a 40% stake in Binance Japan. The Tokyo-based firm and a selling shareholder plan to offer 55 million American depositary shares at $17 to $20 each on Nasdaq under the ticker PAYP.