Coinspeaker
9 hour ago
0 0

PayPay Partners with Binance Japan for Crypto Payment Integration

SoftBank's PayPay Partners with Binance Japan

  • PayPay, under SoftBank Group, partners with Binance Japan to integrate new payment systems.
  • Binance Japan users can purchase cryptocurrencies using PayPay Money and withdraw them directly to the platform.
  • The partnership leverages PayPay Money, an electronic money service for free peer-to-peer transactions.
  • Users need to complete identity verification on both Binance Japan and PayPay platforms.
  • Minimum transfer amount via PayPay is approximately 1,000 yen ($6.50).
  • Transactions can be performed anytime, enhancing user convenience.

Strategic Stake Acquisition and Future Plans

  • PayPay acquired a 40% stake in Binance Japan, marking its first expansion beyond bank transfers in Japanese yen.
  • The collaboration aims to merge PayPay’s cashless payment ecosystem with Binance's blockchain technology.
  • Initial steps include enabling crypto purchases with PayPay Money and withdrawals for Binance Japan users.
  • The partnership is expected to advance secure, user-friendly Web3 financial services.
  • PayPay plans for an Initial Public Offering (IPO) in the US by December.