PayPay CorporaBinanction has acquired a 40% equity stake in Binance Japan through a newly formed capital and business alliance announced Thursday. The SoftBank group company operates one of Japan's largest digital payment platforms with 70 million users.
The partnership combines PayPay's extensive payment network with Binance's blockchain infrastructure. Officials stated the alliance aims to bridge digital payments and crypto assets, creating more fluid experiences for users navigating both systems.
Initial product integrations will enable Binance Japan users to purchase cryptocurrencies using PayPay Money directly within the exchange app. Users will also gain the ability to select PayPay Money as a withdrawal option when converting crypto assets back to fiat currency.
Takeshi Chino, general manager for Binance Japan, described the collaboration as making Web3 more accessible nationwide. He emphasized that the partnership will deliver secure and seamless digital asset services by leveraging PayPay's user scale alongside Binance's technology innovation.
Both companies plan to co-develop additional products and services that integrate their respective technologies. The goal centers on enabling smoother transitions between traditional digital payments and crypto transactions for Japanese consumers.
Binance Japan maintains registration with the Kanto Local Finance Bureau as a licensed crypto asset exchange operator. The platform has provided spot trading and earn products since launching services in August 2023.
PayPay's investment strengthens Binance's position in the Japanese market while giving the payment giant exposure to blockchain technology. The partnership reflects a growing convergence between traditional fintech and cryptocurrency platforms in regulated markets.