Binance Japan has formed a capital and business agreement with PayPay, a mobile payment service run by the prominent Japanese investment firm, SoftBank Group.
SoftBank’s PayPay has acquired a 40% equity stake in Binance Japan, making it an equity-method affiliate of PayPay as of September 2025, as the company announced on Thursday.
Post-acquisition, PayPay and Binance Japan intend to introduce integrated services, allowing Binance clients to buy and sell cryptocurrencies via the cashless payment method PayPay Money.
“As we continue to evolve from a cashless payment platform into a digital financial ecosystem, PayPay aims to provide new value to users while enhancing Japan’s financial infrastructure,” the company stated in the announcement.
PayPay user base reaches 70 million
“PayPay has been advancing digital finance through smartphones, collaborating with our group companies in the financial sector that have strong synergies with payments,” stated PayPay corporate officer Masayoshi Yanase in a joint statement on Thursday.
“By investing in Binance Japan, part of the world’s largest digital asset exchange by trading volume, we aim to offer Binance users solutions that integrate the convenience and security of PayPay,” he added.
PayPay’s investment in Binance Japan reflects its significant achievements in the market. Launched by SoftBank in 2018, PayPay reached over 70 million users for the first time in July 2025.
In 2024, PayPay processed at least 380 million remittances, marking a 36% increase from the 280 million transactions in 2023, according to the company. This growth positions PayPay as one of Japan’s foremost payment platforms, as bank transfer volumes increased by only 7.5% during the same timeframe.
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“Combining PayPay’s extensive user base with Binance’s innovative technology enables us to make Web3 more accessible and deliver secure, seamless digital asset services,” remarked Takeshi Chino, general manager of Binance Japan.
PayPay applied for US listing in August
In addition to promoting local growth, PayPay is also looking to expand globally, announcing its payment service launch in South Korea in September.
Moreover, PayPay has confidentially filed with the US Securities and Exchange Commission to list American depositary shares on a US stock exchange in August.
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While the exact schedule, size, and price for the public listing were not confirmed at the time of the announcement, PayPay indicated that the potential listing is contingent upon market and other conditions.
The acquisition coincided with a strong surge in BNB (BNB), the native token of Binance’s BNB Chain, which recently ranked third among cryptocurrencies by market cap.
As of Thursday, BNB was trading around $1,300, a 26% increase over the past week, with a market cap of roughly $182 billion, according to CoinGecko.
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