PayPay, Japan’s leading mobile payments platform backed by SoftBank, has procured a 40% stake in Binance Japan, a branch of the global cryptocurrency exchange. This strategic move is designed to make digital assets more accessible to everyday users by integrating cryptocurrency trading with the mobile payment services they already use.
According to the official statement, both companies will use their unique strengths to work together to create new products and services, and they will also work together to improve technology that connects cashless payments and digital assets.
Binance and PayPay are now working together in Japan. This means people using Binance can buy crypto with their PayPay Money and also send money back to their PayPay account. It makes moving between crypto and regular money a lot easier and smoother.
“By investing in Binance Japan, we will provide Binance users with solutions that combine the convenience and security of PayPay,” said Masayoshi Yanase, Corporate Officer of PayPay Corporation, while emphasizing the synergy between the two companies.
CZ excited about the partnership
Changpeng Zhao, commonly known as CZ, the Co-Founder and former CEO of Binance, also shared his thoughts on X, emphasizing the importance of the partnership for expanding crypto adoption in Japan and making Web3 more accessible to everyday users.
Takeshi Chino, General Manager of Binance Japan, said, “By combining PayPay’s extensive user scale with Binance’s innovative technology, we will be able to make Web3 more accessible to people across the country.”
This partnership is part of Binance’s bigger plan to help local ecosystems by working with trusted partners, bringing new ideas to the table, and protecting users. Japan is a key market in this vision, and this partnership shows that Binance Japan is still committed to shaping the future of digital finance.
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