On September 30, 2026, Binance Pay launched an integration with Japan's PayPay merchant network via the HIVEX interoperability framework. The service allows approximately 48 million eligible international tourists to spend over 100 cryptocurrencies at 30 million PayPay-supported merchants. Transactions settle instantly in Japanese yen using Tether's USDt stablecoin on the back end, protecting merchants from direct crypto exposure. The feature is strictly limited to verified overseas visitors.
Binance Pay international expansion
- ▪Binance Pay expanded its services to Bhutan in August 2026, enabling cryptocurrency payments at more than 3,700 merchants through DK Bank's QR network.
- ▪Binance Pay expanded its network in Japan on September 30, 2026, allowing eligible international tourists to use cryptocurrency at PayPay-supported merchants.
Scale of the integration
- ▪The integration allows approximately 48 million eligible Binance Pay users from more than 100 countries and regions to access PayPay's merchant network in Japan.
- ▪The integration connects Binance Pay to PayPay's network of 30 million merchants, which includes convenience stores, restaurants, supermarkets, shopping centers, and taxis.
How users make payments
- ▪Binance Pay users can choose from more than 100 supported cryptocurrencies for payment, which are automatically converted to Japanese yen at the point of sale.
- ▪Binance Pay users can pay at PayPay merchants by either displaying a payment code in the Binance app for scanning or scanning a merchant's PayPay QR code.
Eligibility requirements for users
- ▪To use the service in Japan, overseas visitors must have completed Binance's identity verification process and originate from a jurisdiction where Binance Pay is supported.
- ▪The Binance Pay PayPay integration is strictly limited to international tourists and is not available to residents of Japan.
Role of the HIVEX framework
- ▪The connection between Binance Pay and PayPay is powered by HIVEX, a payment interoperability framework developed by TBCASoft.
- ▪PayPay's merchant network previously connected with nine other overseas payment services through HIVEX, primarily from China, Hong Kong, and Taiwan.
- ▪Binance stated that Binance Pay is the first cryptocurrency payment service to gain access to PayPay-supported merchants through the HIVEX framework.
Stablecoin payments in Japan
- ▪Tether's USDt stablecoin serves as the backend settlement layer, while HIVEX settles with PayPay, which pays merchants exclusively in Japanese yen, eliminating direct cryptocurrency handling and currency risk for the businesses.
- ▪Convenience store operator Lawson tested stablecoin payments using JPYC, USDC, and USDT at two Tokyo locations in August 2026.
Trends in Japan's Tourism
- ▪Japan recorded 3.1 million visitor arrivals in August 2026, representing a 9.6% decline from August 2025, according to the Japan National Tourism Organization.
- ▪Total visitor arrivals to Japan for the first eight months of 2026 reached 27.6 million, a 2.7% decrease compared to the same period in 2025.
- ▪Japan welcomed a record 42.7 million international visitors in 2025, ranking ninth globally and first in Asia for tourism, according to the Japan Tourism Agency.
Debatable claims
- ▪Crypto payment options will significantly boost Japan's tourism revenue
- ▪Mandatory identity verification for retail crypto payments undermines the core purpose of digital assets
- ▪Japan should allow its residents to use cryptocurrency for retail payments
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