Binance Pay Introduces Cryptocurrency Services Throughout Japan

Binance Pay is rolling out its crypto and digital asset payment capabilities to millions of PayPay-enabled locations throughout Japan. A press release from Binance indicates that starting today, qualified overseas travelers visiting Japan can use more than 100 different cryptocurrencies at the vast majority of merchants that accept PayPay.

As a prominent cashless payment provider in Japan, PayPay is accepted at millions of businesses nationwide. The platform is utilized by major chains, independent retailers, vending machines, taxis, and public transit systems across the country. Having previously integrated nine other foreign payment platforms via HIVEX—primarily originating from China, Hong Kong, and Taiwan—PayPay now includes Binance on its list of supported networks. In its press release regarding the integration, PayPay 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 payment interoperability network linking international QR payment solutions with PayPay-supported merchants in Japan. This makes Binance Pay the initial cryptocurrency payment service to integrate with PayPay-supported merchants through HIVEX. Under the hood, Binance Pay utilizes the Tether USDt stablecoin (USDT) for backend settlement, while HIVEX handles settlement with PayPay, and PayPay ultimately disburses funds to merchants in Japanese yen.

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This development represents a major milestone for cryptocurrency adoption in Japan and for Binance’s international expansion. Following the announcement, Binance’s native asset, BNB Coin, experienced a price increase of just over 1.7%. Travelers can utilize the Binance Pay service in Japan via 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.

Frequently Asked Questions

What is Binance Pay’s new service in Japan?

Binance Pay is launching crypto payment services across millions of PayPay-supported locations in Japan, allowing eligible overseas visitors to spend over 100 cryptocurrencies.

How do merchants receive their funds?

While transactions utilize the USDT stablecoin on the backend and run through the HIVEX framework, PayPay merchants ultimately receive their sales proceeds in Japanese yen.

Who can use this crypto payment service?

The service is designed for eligible overseas users visiting Japan.

How are payments processed technically?

The service runs through HIVEX—an interoperability framework connecting overseas QR payment services to PayPay merchants—with Binance Pay using Tether USDt (USDT) for backend settlement.

Did this announcement affect any token prices?

Following the announcement, Binance’s native crypto coin, BNB Coin, rose just over 1.7%.