PayPay extended its gains in pre-market trading after a strong Nasdaq debut, while its earlier 40% stake purchase in Binance Japan underscored its growing links to the digital asset sector.
PayPay continued to climb after its Nasdaq debut, rising 18.39% in pre-market trading to $21.5 after closing its first trading session up 13.5%. The existing topic noted the SoftBank-backed Japanese payments provider had risen 15.6% from its $16 IPO price to $18.5 on debut, giving it a $12.37 billion valuation. In October, PayPay acquired a 40% stake in Binance Japan and entered a capital and business alliance with the company, highlighting a broader connection between its payments business and the crypto industry.