Overview

• PayPay acquired a 40% equity stake in Binance Japan, with the companies announcing the partnership on Thursday.
• Binance Japan customers will be able to purchase and withdraw cryptocurrencies using PayPay Money once services are integrated.
• Financial terms of the transaction were not disclosed by the companies.
• The move comes as Japan’s regulator is reportedly preparing legislation to treat crypto assets as financial products, with a bill possible by 2026.
• PayPay is backed by multiple SoftBank entities and applied in August to list American depositary shares in the United States while remaining a SoftBank subsidiary.