PayPay Corporation

Pay by QR code almost anywhere in Japan and you are probably using PayPay. Launched in 2018 as a joint venture between SoftBank and Yahoo Japan, it grew fast by handing out cashback during aggressive promotional campaigns, and it now sits at the center of Japan's shift away from cash. Tens of millions of users scan a code or show a barcode to pay merchants, and the app has expanded into stored balances, peer-to-peer transfers, credit and financial services. It sits inside LY Corporation, the SoftBank-controlled group formed by merging Yahoo Japan and Line. PayPay's advantage is distribution: it is bundled into services that reach most of the country, in a market where paper money held on far longer than in China or the West.

On MyRWA, PAYP trades tokenized across 9 on-chain venues - see the listings below.