PayPay Acquires 40% Stake in Binance Japan
PayPay, Japan’s top mobile payments platform backed by SoftBank, has bought a 40% stake in Binance Japan. Binance Japan is a branch of the global cryptocurrency exchange Binance. This move aims to make digital assets easier to access for everyday users. It will integrate cryptocurrency trading with PayPay’s existing mobile payment services.
Collaboration to Enhance Crypto and Cashless Payments
According to the official statement, PayPay and Binance will combine their strengths. They plan to create new products and services. They will also improve technology linking cashless payments and digital assets.
Users of Binance can now buy crypto using their PayPay Money. They can also send funds back to their PayPay accounts. This makes moving between crypto and regular money simpler and smoother.
Masayoshi Yanase, Corporate Officer of PayPay Corporation, said, “By investing in Binance Japan, we will provide Binance users with solutions that combine the convenience and security of PayPay.” He highlighted the synergy between the two companies.
Industry Leaders Support the Partnership
Changpeng Zhao (CZ), Co-Founder and former CEO of Binance, expressed excitement about the partnership on X. He emphasized its importance for expanding crypto adoption in Japan. CZ also noted it will help make Web3 more accessible to everyday users.
Takeshi Chino, General Manager of Binance Japan, said, “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.”
This partnership is part of Binance’s larger plan to support local ecosystems. Binance aims to work with trusted partners, introduce new ideas, and protect users. Japan remains a key market in this vision. The deal shows Binance Japan’s commitment to shaping the future of digital finance.
