PayPay Corp (PAYP  ) shares are trading higher on Friday amid post-IPO volatility. The SoftBank‑backed digital payments platform made its Nasdaq Global Select Market debut on Wednesday. Shares Open Well Above IPO Price

PayPay began trading at $19 per share, nearly 19% above its $16 IPO price, where the company sold 54.99 million American depositary shares. The stock finished the session at $18.16, up 13.5%, and added another 4.24% in after‑hours trading to reach $18.93.

The debut showed clear investor enthusiasm for the digital payments platform, which counted roughly 70 million users in 2025. Trading was volatile throughout the morning, hitting above $26 around 4:30 a.m. ET before pulling back a little bit.

While listing in the U.S. is the right move for PayPay's growth right now, according to Bloomberg, the company isn't closing the door on a future listing in Japan, CEO Ichiro Nakayama said in an interview. "We're definitely not ruling that out," he noted.

Ark Invest Steps In With A Day‑One Purchase

Cathie Wood's Ark Invest made a notable move on PayPay's first day of trading. The firm's ARK Blockchain & Fintech Innovation ETF snapped up 275,000 shares, an investment worth nearly $5 million based on the stock's $18.16 closing price.

Having Ark Invest step in immediately seems to have provided a vote of confidence in PayPay's long‑term potential.

SoftBank‑Backed IPO Structure Adds Credibility

PayPay listed on the Nasdaq under the ticker "PAYP" with the support of SoftBank Group Corp (SFTBY  ), one of the company's largest backers. The IPO also included an over‑allotment option allowing underwriters to buy an additional 8.23 million ADSs.

PAYP Price Action: PayPay shares were up 17.07% at $21.26 at the time of publication on Friday, according to Benzinga Pro.