SoftBank’s PayPay has acquired a 40% stake in Binance Japan following its application for a US listing in August. This collaboration includes plans for integrated services allowing Binance users to buy and sell crypto via PayPay Money.

“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.”
— PayPay’s official announcement.

As of September 2025, Binance Japan has become an equity-method affiliate of PayPay.

PayPay’s Rapid Growth

PayPay, launched in 2018, surpassed 70 million users in July 2025, showcasing significant growth in digital finance via smartphone applications.

“By investing in Binance Japan, part of the world’s largest digital asset exchange by trading volume, we aim to enhance both convenience and security for Binance users.”
— Masayoshi Yanase, PayPay Corporate Officer.

In 2024, PayPay processed around 380 million remittances, marking a 36% increase compared to the previous year.

The acquisition comes as PayPay aims for international expansion, having announced plans to launch its services in South Korea. Also, in August, it confidentially filed with the US SEC to list on a US stock exchange. The offerings for this listing are still being determined based on market conditions.