SoftBank Group’s digital payments champion PayPay is on the brink of a landmark moment as it prepares for a major U.S. stock market debut that could reverberate across the global fintech world. According to multiple industry sources, heavyweight global institutions like Qatar Investment Authority (QIA), Visa, and the Abu Dhabi Investment Authority (ADIA) are in advanced talks to serve as cornerstone investors in the anticipated initial public offering (IPO), injecting roughly $200 million or more into the listing on the Nasdaq exchange.
The move represents not just a significant capital milestone for PayPay but a global endorsement of its rapidly expanding footprint in digital payments beyond Japan. The proposed IPO is shaping up to be one of the largest U.S. listings ever by a Japanese company, with valuations potentially approaching $14 billion—a major leap for a fintech that has, until now, built its reputation primarily in Asia’s high-growth mobile payments market.
Founded in 2018 through a partnership between SoftBank and Yahoo Japan, PayPay quickly rose to prominence by helping transform how millions of consumers transact in Japan, where digital wallets and QR code payments replaced cash at an accelerating pace. By the end of 2025, PayPay amassed roughly 72 million registered users, making it one of the most widely used payment platforms in the country.
The anchor investment talks with QIA, Visa and ADIA carry strategic weight. For one, Qatar’s sovereign wealth arm and Abu Dhabi’s powerful investment fund are known for backing transformational technology plays with long-term growth potential. Visa’s involvement signals confidence in PayPay’s integration with international payments ecosystems, particularly as the company expands toward U.S. merchants and global users.
The IPO was initially delayed due to regulatory slowdowns in the U.S., including a prolonged government shutdown, but sources now say SoftBank is targeting a Nasdaq launch as soon as next month—a timeline that suggests SoftBank is capitalizing on improving market conditions and strong investor interest.
This forthcoming listing also underscores SoftBank’s broader strategy to free up capital for its aggressive investment agenda. Led by CEO Masayoshi Son, the Japanese conglomerate has invested tens of billions into artificial intelligence initiatives, including a massive stake in OpenAI, and has divested other assets like holdings in Nvidia and T-Mobile to fuel further growth. PayPay’s IPO proceeds are expected to support these strategic pursuits while broadening SoftBank’s presence in international financial services.
PayPay’s expansion beyond Japan has been methodical. In 2025, the company announced a partnership with Visa that will allow PayPay’s mobile wallet capabilities to integrate with Visa’s extensive global merchant network—an essential move for competing in markets dominated by contactless card payments and well-established networks. This relationship will be crucial as PayPay charts its course into North America and beyond.
Industry analysts say the involvement of prominent anchor investors is a vote of confidence in PayPay’s long-term scalability and business model. Qatar Investment Authority and ADIA are known for their strategic capital commitments across tech, fintech, and infrastructure, and Visa’s participation could bridge PayPay’s digital wallet technology with traditional card-based systems around the world.
For SoftBank, the PayPay IPO represents more than another listing—it marks a symbolic shift for Japanese companies in global capital markets. If successful, it could pave the way for more Asian fintech players to consider U.S. exchanges to fuel growth and raise international visibility.
The stakes are high, not only for SoftBank and PayPay’s investors but for global fintech markets watching how a Japanese digital payments leader navigates its transition onto one of the world’s most competitive public stages. With the cornerstone investment lineup taking shape, PayPay’s Nasdaq debut is poised to be one of the most closely watched IPOs of 2026.
