Bloomberg is a division of SoftBank Group Corp. Z Holdings Corp. (9984) is betting on non-fungible tokens and its PayPay service to drive growth while actively investing in expanding its global footprint.
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 that can rival the world’s technology leaders. Expanded Z Holdings now plans to launch an NFT marketplace in 180 countries this spring and is spending large sums to double the number of users of PayPay’s fintech arm to 90 million, the company’s chief executive said.
Web3 has become a generic term for a growing list of blockchain-based applications such as cryptocurrencies and exchanges, decentralized finance, and NFT trading. His popularity has been boosted by the support of celebrities and venture capitalists such as Andreessen Horowitz. Z Holdings, which derives most of its revenue from ads and mobile spending, is looking to expand, using a budget of about 500 billion yen ($0.3 billion) for growth initiatives.