- PayPay, Japan’s top mobile payments provider, acquired a 40% stake in Binance Japan to merge digital assets with cashless transactions.
- The alliance allows Binance Japan users to buy and sell crypto through PayPay Money, integrating deposits and withdrawals.
- The move strengthens Japan’s digital finance ecosystem as crypto volumes surge to ¥33.7 trillion (US$230B / AU$350B) in early 2025.
Japan’s leading digital wallet provider, PayPay, has acquired a 40% equity stake in Binance Japan to advance the integration of cashless payments and digital assets in one of the world’s most tech-driven economies. The agreement, described as a capital and business alliance, combines PayPay’s extensive payments network with Binance’s blockchain technology to accelerate digital finance adoption across Japan.
The deal will allow Binance Japan users to buy and sell cryptocurrencies directly through PayPay Money, the mobile app’s digital wallet service. This feature enables deposits and withdrawals, letting users move funds between PayPay and Binance Japan seamlessly.
The companies intend to co-develop financial products that connect cashless payments with crypto assets, laying groundwork for a unified financial ecosystem.
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Masayoshi Yanase, Corporate Officer at PayPay and Head of the Finance Business Strategy Division, said the partnership reflects PayPay’s ongoing efforts to advance digital finance through mobile platforms in collaboration with its financial group partners.
By investing in Binance Japan, he added, the company will deliver solutions that combine convenience and security for users.
We will continue contributing to the development of Japan’s financial infrastructure by enabling a wide range of financial services tailored to user needs.
Masayoshi YanaseBinance Japan General Manager Takeshi Chino described the collaboration as “a significant step toward the future of digital finance in Japan”, emphasising that combining PayPay’s user base with Binance’s technology would make Web3 more accessible nationwide.
PayPay, which is owned by several SoftBank entities including SoftBank Corp, Vision Fund, and LY Corp, has been instrumental in Japan’s shift away from cash by rewarding mobile payments. The move comes as Japan’s crypto market gains momentum, with total transaction volumes reaching ¥33.7 trillion (AU$340 billion) in the first seven months of the year, according to industry data.
Related: Singapore, UAE Named World’s Most “Crypto-Obsessed” Nations
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