Binance Pay Launches Crypto Payment Services Across Japan

Cryptocurrency and digital asset payments are coming to millions of PayPay-enabled merchants throughout Japan via Binance Pay. A press release from Binance indicates that, starting today, qualified international visitors traveling in Japan can utilize Binance Pay to transact with over 100 cryptocurrencies at the vast majority of PayPay-supported businesses.

As a widespread cashless payment network in Japan, PayPay is accepted at millions of sites nationwide, spanning major retail chains, local shops, vending machines, taxis, and public transit systems. Alongside nine other international payment services primarily originating from China, Hong Kong, and Taiwan that operate through HIVEX, PayPay now includes Binance as an officially supported platform. In its press release regarding the integration, PayPay noted: “Users of Binance Pay can now use the feature for dining, shopping, accommodations, entertainment and other expenses at PayPay merchants throughout Japan. PayPay merchants will receive their sales proceeds in Japanese yen.”

Binance explained that the service operates via HIVEX, a payment interoperability framework bridging overseas QR payment providers with PayPay-compatible merchants in Japan, marking the initial integration of a crypto payment provider into PayPay merchants through HIVEX. Under the hood, Binance Pay relies on the Tether USDt stablecoin (USDT) for backend settlement, whereas HIVEX handles settlement with PayPay, which subsequently pays out merchants in Japanese yen.

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This development represents a significant milestone for cryptocurrency adoption in Japan and for Binance’s international expansion. Following the announcement, Binance’s native token, BNB Coin, experienced an increase of slightly more than 1.7%. The procedure for utilizing the Binance Pay service through PayPay in Japan is outlined below:

1. Open the Binance App and tap the [Pay] icon.
2. Tap the [PayPay] icon.
3. There are two options to pay to PayPay merchants:
   • Option 1: Present Your PayPay payment code
     • Show your PayPay payment code in the Binance App.
     • Let the merchant scan the code on your phone to complete the payment.
   • Option 2: Scan the Merchant’s PayPay QR Code
     • Scan the merchant’s PayPay QR code via Binance Pay.
     • Enter the payment amount.
     • Complete the payment and show the result to the merchant.