Binance Pay has gone live at millions of PayPay-supported merchant locations across Japan, giving eligible overseas users from more than 100 countries and regions the ability to pay with digital assets through the existing PayPay QR network. The rollout, announced on Sept. 30, connects Binance Pay to PayPay merchants via the HIVEX payment network, with merchants continuing to receive settlement in Japanese yen.
According to Binance, approximately 48 million eligible Binance Pay users visiting Japan can now use the service at restaurants, stores, accommodation and other businesses where supported PayPay payment flows are available. Users scan a merchant’s PayPay QR code through Binance Pay or display a payment code in the Binance app for the merchant to scan. Japanese residents are excluded from the feature; overseas users must be in a jurisdiction where Binance Pay is supported and must complete the exchange’s identity verification.
HIVEX provides the technical bridge between Binance Pay and PayPay’s merchant network, so businesses do not need to separately integrate each overseas wallet. PayPay has already used HIVEX to connect multiple overseas cashless services, including UnionPay QR payments added earlier in September. After that addition, PayPay estimated its merchant network could receive payments from 36 overseas cashless services covering 17 countries and regions, representing roughly 80% of international visitors to Japan.
For merchants, the payment flow remains tied to the local PayPay system. Binance said merchants receive Japanese yen rather than cryptocurrency, removing the need for individual businesses to hold or directly process digital assets. PayPay’s guidance says HIVEX transactions follow a process similar to ordinary PayPay payments, and eligible merchants do not need a separate application to receive HIVEX payments.
The launch builds on an existing relationship between PayPay and Binance Japan. SoftBank group company PayPay acquired a 40% stake in Binance Japan in October 2025, when PayPay had more than 70 million users in Japan. Earlier integrations let Binance Japan users buy crypto with PayPay Money and PayPay Points, transfer sale proceeds back to PayPay, and deposit Japanese yen through PayPay Money. In August, Binance Japan raised PayPay Money instant deposit limits from ¥300,000 to ¥1 million for 24 hours and from ¥1 million to ¥2 million for 30 days.
Thomas Gregory, Binance’s vice president of payments and fiat, said the integration reflects “a shared vision of making payments more seamless, borderless, and accessible for travelers visiting the country.” He added that the arrangement gives travelers more ways to pay while allowing PayPay-supported merchants to serve international customers through their existing payment setup.
Japan has been testing other digital asset payment rails. Lawson piloted stablecoin payments using JPYC, USDC and USDT at two Tokyo locations in August, while JCB partnered with Circle in July to test USDC for internal treasury transfers and merchant payments. Binance Pay’s latest move takes a different approach by connecting overseas crypto users with an established Japanese QR payment network.
