PayPay recordsdata $19.6B Nasdaq IPO after shopping for 40% of Binance Japan, focusing on over $2B elevate beneath ticker PAYP.
PayPay has filed for a Nasdaq preliminary public providing with a goal valuation of $19.6 billion. The submitting was submitted on February 12, 2026, beneath the ticker image PAYP.
The itemizing follows PayPay’s acquisition of a 40% stake in Binance Japan, linking the funds firm to the worldwide crypto trade.
Nasdaq IPO Targets $19.6B Valuation
PayPay plans to boost greater than $2 billion via the providing. The corporate chosen Goldman Sachs, J.P. Morgan, Mizuho, and Morgan Stanley as lead underwriters.
The IPO was initially scheduled for late 2025 however confronted delays.
PayPay simply filed for a US IPO and now owns 40% of Binance Japan 🚨
Right here’s what truly occurred:
On February 12, 2026, PayPay filed for a Nasdaq IPO.
Ticker: PAYP
Goal valuation: $19.6 billionPayPay is Japan’s largest cell funds app.
– 72 million customers.
~70% market… pic.twitter.com/NptdcJUsxI— StarPlatinum (@StarPlatinum_) February 12, 2026
The delay was linked to a US authorities shutdown that slowed the Securities and Change Fee assessment course of.
With the submitting now lively, the corporate has resumed its itemizing timeline. Last pricing particulars will rely on market circumstances.
PayPay is Japan’s largest cell funds platform with about 72 million customers. The corporate holds practically 70% market share in home cell funds.
SoftBank backs the corporate and stays a key stakeholder.
Acquisition of 40% Stake in Binance Japan
On October 9, 2025, PayPay and softbank acquired 40% fairness in Binance Japan.
The funding quantity was not publicly disclosed. Following the transaction, Binance Japan grew to become an equity-method affiliate of PayPay.
Softbank & PayPay invests 40% in Binance Japanhttps://t.co/To6pnzeTfm
— CZ 🔶 BNB (@cz_binance) October 9, 2025
The possession construction creates a direct capital hyperlink between the funds platform and the crypto trade.
In consequence, Binance Japan’s monetary outcomes could also be mirrored in PayPay’s reporting. The transfer establishes a public firm connection to Binance’s Japanese operations.
Binance Japan operates beneath Japan’s regulatory framework. The trade offers digital asset buying and selling providers to native clients.
The stake positions PayPay inside the regulated crypto market via a minority holding.
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Integration of Funds and Crypto Providers
PayPay’s platform permits customers to retailer and switch digital cash via its PayPay Cash service.
Underneath the brand new construction, customers might purchase crypto property inside Binance Japan utilizing PayPay balances. Funds withdrawn from Binance Japan may also be returned to PayPay accounts.
This integration creates a direct channel between Japan’s largest pockets and a licensed crypto trade.
The association connects retail funds with digital asset buying and selling infrastructure. The businesses haven’t disclosed additional operational particulars.
If accomplished as deliberate, the IPO might mark Binance’s first oblique publicity to US public markets. Binance Holdings itself stays privately owned.
The itemizing subsequently locations a Binance-linked entity inside a Nasdaq-traded construction.
The submitting arrives as international markets monitor crypto regulation and fintech growth. Buyers are assessing development in digital funds and controlled crypto buying and selling.
PayPay’s IPO documentation offers additional particulars on company construction and threat disclosures.