Binance Japan has entered a capital and business partnership with PayPay, the mobile payment service operated by SoftBank Group, one of Japan’s leading investment holdings.
As part of the deal, PayPay acquired a 40% equity stake in Binance Japan, making the crypto exchange’s Japanese subsidiary an equity-method affiliate of PayPay as of September 2025, the companies announced Thursday.
Following the acquisition, PayPay and Binance Japan plan to roll out integrated services, enabling Binance users to buy and sell cryptocurrencies through PayPay Money, the company’s cashless payment platform.
“Through our ongoing evolution from a cashless payments provider to a comprehensive digital financial platform, PayPay aims to deliver new value to users while supporting the growth of Japan’s financial infrastructure,” the company said in a statement.
PayPay’s user base has grown to over 70 million
“PayPay has been driving digital finance through smartphones, collaborating with our group companies in the financial sector, which creates strong synergies with payments,” said Masayoshi Yanase, PayPay corporate officer.
“By investing in Binance Japan, part of the world’s largest digital asset exchange by trading volume, we can offer Binance users solutions that combine PayPay’s convenience and security,” he added.
PayPay’s investment in Binance Japan comes as the platform reaches key milestones. Launched by SoftBank in 2018, PayPay surpassed 70 million users in July 2025, marking a significant milestone in its expansion.
In 2024, PayPay processed over 380 million remittances, marking a 36% increase from the 280 million transactions recorded in 2023, the company reported. This growth positions PayPay as one of Japan’s leading payment platforms, outpacing the 7.5% rise in traditional bank transfer volumes over the same period.
“By combining PayPay’s extensive user base with Binance’s innovative technology, we can make Web3 more accessible nationwide and provide secure, seamless digital asset services,” said Takeshi Chino, general manager of Binance Japan.
PayPay eyes international expansion and US listing
Beyond its domestic growth, PayPay has been pursuing global expansion. In September, the company launched its payment service in South Korea.
Additionally, in August, PayPay confidentially filed with the US Securities and Exchange Commission to list American depositary shares on a US stock exchange. The company noted that the timing, size, and pricing of the potential listing have yet to be determined and will depend on market conditions and other factors.
The acquisition comes amid a strong rally in BNB, the native token of Binance’s BNB Chain, which recently climbed to third place by cryptocurrency market capitalization.
As of Thursday, BNB was trading around $1,300, up 26% over the past week, with a market capitalization of approximately $182 billion, according to CoinGecko.
