SoftBank’s PayPay Buys 40% Stake in Binance Japan
SoftBank’s mobile payment giant PayPay has officially acquired a 40% stake in Binance Japan, marking a major step in the convergence of digital payments and cryptocurrency services in the country. The deal, announced on Thursday, establishes a strategic capital and business partnership between PayPay — operated by the SoftBank Group — and the Japanese subsidiary of global crypto exchange Binance.
Under the agreement, Binance Japan will become an equity-method affiliate of PayPay by September 2025, setting the stage for a new phase of collaboration between traditional finance and digital assets.
PayPay and Binance to Launch Integrated Crypto Services
Following the acquisition, PayPay and Binance Japan plan to roll out integrated services that will allow users to buy and sell cryptocurrencies using PayPay Money, the company’s cashless payment platform.
“Through its continued evolution from a cashless payments business into a digital financial platform, PayPay will strive to deliver new value to users while contributing to the advancement of Japan’s financial infrastructure,”
the company said in its official statement.
This partnership highlights how traditional fintech leaders are increasingly embracing the digital asset ecosystem, aiming to simplify crypto access for mainstream users.
PayPay Reaches 70 Million Users
Launched in 2018 by SoftBank, PayPay has rapidly grown into one of Japan’s largest mobile payment platforms, surpassing 70 million users as of July 2025.
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| Bank transfers volume in Japan versus PayPay remittances in 2024. Source: PayPay |
According to company data, PayPay processed at least 380 million remittances in 2024, marking a 36% year-over-year increase from the 280 million transactions recorded in 2023. During the same period, bank transfer volumes in Japan rose only 7.5%, underscoring PayPay’s dominant role in the country’s digital payments market.
“By investing in Binance Japan — part of Binance, the world’s largest digital asset exchange by trading volume — we will provide users with solutions that combine the convenience and security of PayPay,”
said Masayoshi Yanase, Corporate Officer at PayPay.
“By combining PayPay’s extensive user base with Binance’s innovative technology, we can make Web3 more accessible across Japan and offer secure, seamless digital asset services,”
added Takeshi Chino, General Manager of Binance Japan.
PayPay Eyes Global Expansion and U.S. Listing
Beyond its domestic success, PayPay is also accelerating its international expansion. In September 2025, the company launched its payment service in South Korea, extending its presence beyond Japan’s borders.
In a major move toward global financial markets, PayPay confidentially filed for a U.S. listing with the Securities and Exchange Commission (SEC) in August 2025, aiming to list American depositary shares (ADS) on a U.S. stock exchange. While the company has not yet disclosed the timeline, size, or pricing details of the potential IPO, it stated that the offering would depend on market conditions and regulatory approvals.
The Deal Comes Amid a Strong BNB Rally
The PayPay–Binance partnership also coincides with a notable rally in BNB, the native token of Binance’s BNB Chain. As of Thursday, BNB was trading around $1,300, representing a 26% gain over the past seven days, with a market capitalization of approximately $182 billion, according to data from CoinGecko.
BNB’s recent surge has propelled it to third place among all cryptocurrencies by market cap, reflecting renewed investor confidence in the Binance ecosystem amid growing institutional partnerships like this one.
A Strategic Move Toward Japan’s Web3 Future
The collaboration between PayPay and Binance Japan signifies more than just a business investment — it’s a signal of Japan’s increasing openness toward Web3 innovation. By combining PayPay’s vast user reach with Binance’s crypto expertise, both companies aim to create a seamless bridge between traditional finance and digital asset trading, bringing crypto adoption closer to everyday life in Japan.
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As Japan continues to advance its fintech ecosystem under a more progressive regulatory environment, this partnership may serve as a blueprint for future collaborations between major financial institutions and global crypto players.
