PayPay Shares Surge 19% on Nasdaq Debut. The Japanese fintech giant, backed by SoftBank, opened at US$19 compared to its US$16 offer price, valuing the company at US$12.7 billion. The IPO raised approximately US$880 million despite global market volatility from Middle East tensions. PayPay has achieved remarkable growth with 72 million registered users and US$100 billion in gross merchandise volume. The company plans to expand beyond cashless payments into credit, banking, securities, and insurance to become a comprehensive digital finance platform. CEO Ichiro Nakayama emphasized that payments will serve as the foundation for their transformation into a full financial services provider. This marks SoftBank's first major US listing since Arm's successful 2023 IPO, further demonstrating the investment giant's influence in the fintech sector.
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