Binance Pay Lets Overseas Visitors Spend Crypto at PayPay Merchants in Japan

TLDR

• Binance Pay users visiting Japan can now spend more than 100 cryptocurrencies at most PayPay-supported merchants.
• The payments run through HIVEX, a framework that links overseas QR payment apps to PayPay merchants.
• Tether’s USDt stablecoin acts as the backend settlement layer, and merchants receive Japanese yen.
• Binance says it is the first crypto payment service to reach PayPay merchants through HIVEX.
• Japan welcomed a record 42.7 million international visitors in 2025.

Binance Pay users visiting Japan can now pay with cryptocurrency at stores that accept PayPay. The service went live on Wednesday, Sept. 30, according to a report from Cointelegraph.

Eligible overseas users can spend more than 100 cryptocurrencies at the vast majority of PayPay-supported merchants. Store owners will still receive Japanese yen.

Binance told Cointelegraph it is the first crypto payment service to reach PayPay merchants this way. Merchants will not need to sign up separately to accept the payments.

How the Payments Work

The service runs through HIVEX, a payment interoperability framework. It connects overseas QR code payment services to merchants in Japan that accept PayPay.

When a traveler pays, Binance Pay uses Tether’s USDt stablecoin as its backend settlement layer. HIVEX then settles with PayPay.

A stablecoin is a type of cryptocurrency built to keep a steady value. USDt, issued by Tether, is tied to the U.S. dollar.

PayPay completes the final step by paying merchants in yen. This means stores do not handle crypto directly.

Users can pick from more than 100 supported cryptocurrencies when paying. USDt is only used on the back end to settle the transaction.

PayPay’s Reach in Japan

PayPay is a Japanese cashless payment service. It is accepted at millions of locations across the country.

These include major chains and smaller retailers. PayPay is also used at vending machines, in taxis and on public transportation.

PayPay lists nine other overseas payment services that work through HIVEX. Most of them come from China, Hong Kong and Taiwan.

Binance says it is the first crypto payment service to gain access to PayPay merchants through HIVEX. That places it alongside these regional payment apps.

Japan welcomed a record 42.7 million international visitors in 2025, according to the Japan Tourism Agency. Many of those travelers use mobile payment apps while in the country.

In the latest comparable global ranking, which uses 2024 data, Japan placed ninth worldwide. It ranked first in Asia.

Visitor numbers have dipped this year. The Japan National Tourism Organization said the country recorded 3.1 million arrivals in August, down 9.6% from a year earlier.

That brought the total for the first eight months of 2026 to 27.6 million visitors. The figure is down 2.7% compared with the same period last year.

Cointelegraph updated its report on Sept. 30 after Binance clarified the details. Binance said users can pay with more than 100 supported cryptocurrencies, while USDt is used only as the backend settlement layer.

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