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Binance Japan announced a new partnership with PayPay, one
of Japan’s cashless payment providers. PayPay, a SoftBank Corp. group company,
has acquired a 40% stake in Binance Japan.

The agreement aims to expand access to digital assets and
Web3 services in Japan by linking PayPay’s large user base and established
payment infrastructure with Binance’s blockchain technology.

Integration of PayPay Money

In the first stage of the partnership, Binance Japan users
will be able to buy cryptocurrencies using PayPay Money and withdraw funds
directly into their PayPay Money wallets. The integration is expected to create
a smoother experience for customers using both traditional and digital
financial services.

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Masayoshi Yanase, Corporate Officer of PayPay, said the
company’s investment reflects its plan to combine convenience and security in
digital finance. Takeshi Chino, General Manager of Binance Japan, described the
alliance as a step toward broader Web3 adoption in the country.

Part of Binance’s Local Partnership Strategy

The collaboration aligns with Binance’s strategy of building
local partnerships to ensure compliance in key markets, according to the firm.
For Japan, it represents a growing effort to merge regulated financial systems
with emerging digital asset services.

PayPay’s Global Expansion Plans

Separately, PayPay has been expanding beyond Japan. The
company launched its payment service in South Korea in September. In August, it
confidentially filed with the US Securities and Exchange Commission to list
American depositary shares on a US stock exchange. The timing and size of the
offering have not yet been finalized, and the listing remains subject to market
conditions.

This article was written by Tareq Sikder at www.financemagnates.com.

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