TLDR
- PayPay has integrated with Binance Japan, allowing users to buy and sell crypto assets using PayPay Money.
- The integration marks Binance Japan’s first expansion beyond bank transfers in Japanese yen.
- SoftBank acquired a 40% stake in Binance Japan in October, which facilitated the launch of the new payment service.
- Binance Japan users can now make deposits and withdrawals with a minimum of 1,000 yen ($6.50).
- PayPay Money transactions are available 24/7, offering more flexibility for Binance Japan users.
PayPay, a service operated by SoftBank, has launched a new integration with Binance Japan. This enables users to buy and sell crypto assets using PayPay Money. The integration follows SoftBank’s October acquisition of a 40% stake in Binance Japan.
Binance Japan Expands Beyond Bank Transfers
Binance Japan has introduced PayPay Money for deposits and withdrawals. Users can now fund their Binance accounts and withdraw crypto assets directly to PayPay Money. This marks Binance Japan’s first move beyond bank transfers in Japanese yen.
The integration allows for transactions with a minimum amount of 1,000 yen, or roughly $6.50. Users can complete both deposits and withdrawals with a single click on Binance Japan’s platform. PayPay Money transactions are available 24/7, providing more flexibility for users.
PayPay Money’s deposit fees are free at launch. However, the withdrawal fee is set at 110 yen ($0.60). SoftBank’s investment in PayPay continues to expand its presence in Japan’s growing crypto market.
SoftBank Pushes for PayPay’s US IPO Listing
SoftBank is looking to list PayPay on the US stock exchange by December. Investors expect PayPay’s valuation to exceed 3 trillion yen ($20 billion) upon listing. The PayPay-Binance Japan integration comes at a time when SoftBank is strengthening its position in the crypto industry.
SoftBank‘s backing of Binance Japan and other crypto ventures reflects its increasing interest in the digital assets market. The company has also invested in Twenty One Capital, which has substantial Bitcoin exposure. This recent move in the crypto space reflects SoftBank’s broader strategy to tap into the global crypto ecosystem.
Binance Japan users can now access PayPay Money for seamless crypto transactions, made possible by SoftBank’s strategic investments. With continuous support from SoftBank, PayPay is poised to become a significant player in both the Japanese and international crypto markets.
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