- PayPay has integrated its peer-to-peer electronic money service, PayPay Money, with Binance Japan to facilitate crypto transactions.
- Users can now deposit and withdraw cryptocurrency directly using PayPay Money, enabling faster and simpler crypto trades.
- The service offers transfers starting at about $7 with no deposit fee and a fixed withdrawal fee of $0.60.
- Daily and monthly transaction limits are set at approximately $6,380 and $12,760, respectively.
- SoftBank, which acquired a 40% stake in Binance Japan, continues its expansion in crypto via this integration and other investments.
PayPay, a payment platform owned by Japanese holding company SoftBank Group, has integrated PayPay Money with Binance Japan following SoftBank’s investment in the exchange. This integration allows Binance Japan users to purchase cryptocurrencies directly with PayPay Money funds or withdraw their crypto holdings to PayPay Money accounts.
Prior to this integration, Binance Japan only supported deposits and withdrawals via bank transfers in Japanese yen. PayPay’s involvement marks the platform’s first expansion beyond bank-based payments after SoftBank acquired a 40% stake in October. PayPay Money is an electronic money service that enables free peer-to-peer transactions between users, linked through identity verification on both the Binance Japan and PayPay apps.
Through this service, users can make deposits and withdrawals with a minimum transaction value of 1,000 yen (around $6.50) at any time. Deposits are free of charge at launch, while withdrawal fees are fixed at 110 yen (approximately $0.60). Transaction limits include a maximum of 1 million yen ($6,380) daily and 2 million yen ($12,760) monthly for both deposits and withdrawals. Withdrawals are restricted if the PayPay Money balance exceeds the allowed limit.
SoftBank has maintained a strong focus on cryptocurrencies, backing companies such as Twenty One Capital, which holds close to 43,500 Bitcoin worth roughly $3.7 billion. The PayPay and Binance Japan integration supports SoftBank’s ongoing goal of broadening crypto-related services. The company is also preparing for a potential U.S. listing of PayPay, with an expected valuation exceeding 3 trillion yen ($20 billion) as early as December, according to market reports.
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