SoftBank Group subsidiary PayPay to acquire 40% stake in Binance Japan

On October 9th (UTC+8), Binance Japan officially announced on its official Twitter account that it has entered into a capital and business partnership with PayPay, a renowned payment service provider under SoftBank Group. The two parties have signed a relevant agreement.

According to the agreement, PayPay will acquire a 40% stake in Binance Japan, becoming a significant strategic shareholder.

This partnership aims to combine Binance's technological expertise in digital assets with PayPay's extensive reach in Japan's cashless payments market to jointly promote the deep integration of payments and digital assets.

Going forward, the two parties will collaborate on multiple dimensions around technological innovation and service integration, exploring the potential applications of digital assets in everyday payment scenarios.

Currently, the two parties have initially planned several specific collaborative initiatives. Binance Japan plans to integrate PayPay Money into its official app, allowing users to purchase crypto assets directly using their PayPay balances.

Furthermore, a corresponding mechanism will be established in the system to support users withdrawing funds to their PayPay Money accounts when selling crypto assets, enabling seamless transfers between digital assets and electronic payments.

This partnership is seen as a key step for Binance to further expand its presence in the Japanese market and strengthen its local operations. It also marks a significant step for PayPay in expanding its digital asset ecosystem.

Both parties stated that they will use this collaboration as a starting point to continuously promote the coordinated evolution of blockchain technology and payment experiences, contributing to the development of Japan's digital economy.