Binance Pay Enables Overseas Visitors in Japan to Use Crypto at PayPay Merchants
Starting September 30, Binance Pay has enabled eligible overseas visitors in Japan to spend over 100 supported cryptocurrencies at most merchants who accept PayPay. The service operates through HIVEX, a payment interoperability framework connecting overseas QR code payment services with PayPay merchants. Tether USDt (USDT) serves as the backend settlement layer, while local merchants receive payments in Japanese yen.
Technological Integration via HIVEX
Binance Pay operates through HIVEX, a payment interoperability framework connecting various QR code overseas payment services to merchants in Japan supporting PayPay. Transactions made with Binance Pay are settled on the backend using USDT as a settlement layer. HIVEX then settles with PayPay, which pays the merchants in Japanese yen.
Binance told Cointelegraph that it is the first crypto payment service to gain access to PayPay-supported merchants through HIVEX. Merchants do not need to opt-in separately to accept cryptocurrency payments from Binance Pay users.
Prevalence of PayPay and Support for Overseas Services
PayPay is a Japanese cashless payment platform accepted at millions of locations nationwide, including major retail chains, smaller stores, vending machines, taxis, and public transportation.
Currently, HIVEX supports nine other overseas payment services primarily originating from China, Hong Kong, and Taiwan.
The integration of Binance Pay expands payment options for international visitors, increasing convenience and accessibility of cryptocurrencies for everyday shopping in Japan.
Japan's Tourism and Importance of the Initiative
According to the Japan Tourism Agency, the country welcomed a record 42.7 million international visitors in 2025, ranking ninth worldwide and first in Asia based on 2024 data.
Japan recorded 3.1 million international visitor arrivals in August 2026, a 9.6% decrease from the previous year, with a total of 27.6 million visitors in the first eight months of 2026, down 2.7%, according to the Japan National Tourism Organization.
Given the significant volume of foreign tourists and the widespread PayPay network, enabling cryptocurrency payments through Binance Pay enhances Japan's appeal to international tourists, simplifying their spending experience.
Why it matters
This development marks a significant step in integrating cryptocurrencies into daily consumer life in Japan, particularly for international tourists. The ability to spend over 100 different cryptocurrencies through the extensive PayPay merchant network simplifies the use of digital assets in everyday transactions, enhancing convenience and cashless accessibility. It strengthens Japan's position as a technologically advanced nation supportive of financial innovation and may encourage increased tourism and crypto activity within the country.
Prepared from the source material with AI-assisted editing and checked against the supplied facts.
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