Japanese payment giant PayPay pursues Nasdaq listing

PayPay, Japan's largest non-cash payment service, is pursuing a U.S. listing on the Nasdaq with a target valuation of over $100 billion, CoinDesk reported. The company plans to issue 55 million shares at a price between $17 and $20, aiming to raise up to $1.1 billion. Its proposed ticker is PAYP. PayPay expanded into the cryptocurrency market last October by acquiring a 40% stake in Binance Japan. The initial public offering (IPO) was originally scheduled for Monday but has been postponed due to market volatility stemming from the political situation in Iran.