Binance Pay Enables Crypto Spending at PayPay Merchants…

Binance Pay has widened its real-world payment reach in Japan, allowing eligible overseas users to spend more than 100 cryptocurrencies at most merchants supported by PayPay from Wednesday. The integration links Binance Pay to Japan's PayPay merchant network through HIVEX, an interoperability framework that connects foreign QR payment services with domestic payment systems.

Tether's USDt (USDT) acts as the backend settlement layer, while HIVEX handles settlement with PayPay. PayPay then settles transactions with merchants in Japanese yen. Binance said it is the first cryptocurrency payment service to reach PayPay-supported merchants through HIVEX, adding that merchants do not need to register separately or opt in to accept the payments.

Existing rails, new settlement layer

PayPay is one of Japan's largest cashless services, accepted at millions of locations including major retail chains, smaller businesses, vending machines, taxis and public transportation. Through HIVEX it already supports several overseas payment services, mainly from China, Hong Kong and Taiwan. Binance Pay's addition brings crypto-based settlement into the same merchant environment.

Because users pay through Binance Pay while merchants continue to receive yen through PayPay's existing process, individual businesses avoid directly handling crypto. That reduces operational hurdles normally tied to accepting digital assets, such as wallet management, price volatility and cryptocurrency accounting.

Japan's tourism recovery underpins the potential user base. The Japan Tourism Agency reported a record 42.7 million international visitors in 2025. The Japan National Tourism Organization recorded 3.1 million arrivals in August, taking the total for the first eight months of the year to 27.6 million. For visitors who already hold cryptocurrency, direct payment access could offer an alternative to foreign exchange services or card payments. Japan has also kept a relatively structured regulatory approach to crypto assets compared with many major markets, which has encouraged companies to explore compliant links between digital assets and consumer payments.

The rollout tests whether crypto spending moves beyond investment. Binance Pay's use of a stablecoin settlement layer follows a wider industry pattern aimed at limiting exposure to short-term price swings. Success will hinge on whether travellers and crypto holders use the service regularly, whether transaction volumes build, and whether other payment networks adopt similar models.