SoftBank Group Corp.’s Z Holdings Corp. unit is betting on nonfungible tokens (NFTs) and its PayPay service to drive growth, as it invests aggressively to expand its global presence.
Last year, SoftBank merged Line Corp., one of Asia’s most popular messaging apps, and Yahoo Japan to create an e-commerce and social media giant to compete with global tech leaders.
The enlarged firm, Z Holdings, now plans to launch an NFT marketplace in 180 countries this spring and is spending large sums of money to double fintech unit PayPay’s users to 90 million, according to the company’s top executive.