Softbank backed payments firm PayPay has acquired a 40% stake in Binance Japan, establishing the latter as an equity-method affiliate.
The partnership aims to create Web3 and digital asset transactions in Japan by combining PayPay’s established payment network with Binance’s expertise in the blockchain domain.
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Initially, the integration will permit users of Binance Japan to use PayPay Money for crypto purchases and to transfer funds directly back into their PayPay Money accounts.
Binance Japan and PayPay intend to utilise their respective strengths to jointly develop new products and services, focusing on the convergence of non-cash payments and digital assets.
Binance Japan general manager Takeshi Chino said: “This strategic alliance represents a significant step toward the future of digital finance in Japan.
“By combining PayPay’s extensive user scale with Binance’s innovative technology, we will be able to make Web3 more accessible to people across the country and deliver secure, seamless digital asset services.”
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By GlobalDataThe collaboration will commence with the facilitation of deposits and withdrawals, allowing users to buy cryptocurrency with and cash out from crypto sales to PayPay Money.
PayPay Money is a digital wallet service that enables users to conduct cashless transactions with a variety of merchants, as well as to carry out online purchases and peer-to-peer transfers.
PayPay Corporation corporate officer and head of the Finance Business Strategy Division within the Finance Business Group Masayoshi Yanase stated: “PayPay has been advancing digital finance through smartphones in collaboration with our group companies in the financial sector, which share strong synergies with payments.
“By investing in Binance Japan, the Japanese subsidiary of Binance, the world’s largest digital asset exchange by trading volume, we will provide Binance users with solutions that combine the convenience and security of PayPay.”
In August 2025, PayPay confidentially submitted a draft registration statement to the US Securities and Exchange Commission (SEC) for a potential listing on a US stock exchange.
