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 explains that, starting today, eligible international travelers visiting the country can use Binance Pay to spend more than 100 different cryptocurrencies at the overwhelming majority of PayPay-supported businesses.

PayPay is a widely used cashless payment network accepted at millions of businesses nationwide across Japan. Its vast network includes major retail chains, small shopkeepers, vending machines, taxis, and public transit systems. Having previously integrated nine foreign payment platforms primarily originating from China, Hong Kong, and Taiwan via HIVEX, PayPay has now added Binance to its roster. In a press release regarding the integration, the company stated: “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.”

According to Binance, the integration operates via HIVEX, a cross-border payment framework linking international QR code payment services with PayPay-supported merchants in Japan. This makes Binance Pay the initial cryptocurrency payment provider to reach PayPay merchants through HIVEX. Under the hood, Binance Pay utilizes the USDT stablecoin (Tether USDt) for backend settlement, while HIVEX handles settlement with PayPay, which subsequently pays out merchants in Japanese yen.

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This development marks a significant milestone for cryptocurrency adoption in Japan and expands the global reach of Binance. Following the news, Binance’s native digital asset, BNB Coin, climbed slightly more than 1.7%. Travelers can utilize the Binance Pay service in Japan through PayPay by following these steps:

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.