PayPay, a SoftBank Corp group company, has acquired a 40% stake in Binance Japan.

Japan is one of the world’s most dynamic digital economies, and the demand for seamless integration between traditional finance and digital assets continues to grow. To help unlock this potential, Binance Japan and PayPay have entered into a capital and business alliance that will bring together the strengths of both companies to deliver a new era of digital finance.

This partnership marks an important milestone, combining PayPay’s extensive user base and expertise in building Japan’s leading cashless payment infrastructure with Binance’s innovative blockchain technology and global leadership in digital assets. Together, the two companies will work to create a seamless financial experience for users across Japan.

As an initial step, the collaboration will enable deposits and withdrawals to allow Binance Japan users to purchase crypto with and withdraw proceeds from crypto sales to PayPay Money – a digital wallet service offered by PayPay Corporation. This service allows users to store money digitally within the PayPay app, enabling seamless cashless payments at a wide range of merchants, online stores, and for peer-to-peer transfers.

Masayoshi Yanase, Corporate Officer of PayPay Corporation and Head of the Finance Business Strategy Division within the Finance Business Group, commented:

“PayPay has been advancing digital finance through smartphones in collaboration with our group companies in the financial sector, which share strong synergies with payments. By investing in Binance Japan, the Japanese subsidiary of Binance, the world’s largest digital asset exchange by trading volume, we will provide Binance users with solutions that combine the convenience and security of PayPay. We will continue contributing to the development of Japan’s financial infrastructure by enabling a wide range of financial services tailored to user needs.”

Takeshi Chino, General Manager of Binance Japan, said:

“This strategic alliance represents a significant step toward the future of digital finance in Japan. 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 and deliver secure, seamless digital asset services. Binance Japan will continue to drive the growth of Japan’s Web3 ecosystem.”