SoftBank's "Japanese version of Alipay" is rumored to debut on the US stock market in March.

Recently, SoftBank Group, which has been busy raising a large amount of money for the AI industry, is reportedly preparing to push its QR code payment platform PayPay to the U.S. stock market. According to the latest news on Thursday, PayPay will submit its prospectus to the U.S. Securities and Exchange Commission this month, seeking to be listed on the NASDAQ stock exchange in March. Informed sources revealed that the company's target market value is expected to exceed 3 trillion yen, and SoftBank Group plans to sell approximately 10% of its shares. The company will adjust the size of the offering based on demand to achieve a free float share ratio of around 10%, which is a key threshold for inclusion in the NASDAQ 100 index. In the background, PayPay was established in 2018 as a joint venture between SoftBank Group's telecom subsidiary and Yahoo Japan, with the two companies currently holding a combined 66% stake. The remaining 34% is held by SoftBank's Vision Fund 2. After years of operation, PayPay currently holds about 70% of the market share in the Japanese smartphone payment market and is expected to turn EBITDA positive in the 2023 fiscal year.