Gate News, March 12: Japan's largest cashless payment provider supported by SoftBank, PayPay, officially listed on Nasdaq on March 13. On its first day of IPO, the company's stock increased by 15.6% from the offering price of $16, reaching $18.5, with a total market capitalization of $12.37 billion. Currently, PayPay has over 70 million registered users, dominating the smartphone payment market in Japan. In October last year, PayPay acquired a 40% stake in a cryptocurrency exchange and formed a capital and business alliance with the company, aiming to connect digital payments with cryptocurrencies, enabling users to fund purchases via PayPay Money and withdraw profits. PayPay was founded in 2018 through a joint effort between SoftBank's telecommunications company and Yahoo Japan.

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