Binance Japan, a subsidiary of the global crypto exchange Binance, entered into a partnership agreement with the Japanese corporation PayPay, under which PayPay will acquire 40% of the shares of the local platform.
According to the statement, Binance and PayPay plan to jointly develop products and services that integrate their technologies, allowing users to more freely conduct both fiat and cryptocurrency transactions.
First of all, users Binance Japan users will be able to purchase cryptocurrency using PayPay Money directly within the exchange app, and will also be able to select PayPay Money as a withdrawal method when selling crypto assets.
By combining PayPay’s vast user base with innovative technology Binance, we will be able to make Web3 more accessible to residents across the country and provide secure and convenient services related to digital assets, said Mr.CEO Binance in Japan Takeshi Chino.
Binance Japan was registered with the Kanto Regional Bureau of Finance as a crypto asset exchange operator in August 2023.
PayPay, a subsidiary of SoftBank Corp., is one of the largest digital cashless payment services in Japan.