SoftBank’s PayPay Launches Crypto Payments For Binance Japan

PayPay, a payments service operated by Japanese investment holding company SoftBank Group, is integrating new payment rails on Binance Japan following its investment in the platform.

Binance Japan and PayPay have launched a new integration service with PayPay Money, an electronic money service that allows free peer-to-peer transactions between PayPay users.

With the integration, Binance Japan users can now purchase crypto assets using Pepe Money funds, as well as withdraw their crypto holdings directly into Pepe Money.

The move marks Binance Japan’s first expansion beyond bank transfers in Japanese yen, following the acquisition of a 40% stake by PayPay in October.

Deposits and withdrawals from minimum $7

With PayPay Money, Binance Japan customers can execute both deposits and withdrawals with a single click when buying or selling crypto assets on the spot trading platform.

According to PayPay, the minimum amount for these transfers starts at 1,000 yen (about $6.50), and transactions are available around the clock.

To proceed with the payment, Binance Japan users must complete identity verification on both the Binance Japan app and the PayPay app, and agree to link their accounts.

At launch, deposit fees are free, while withdrawal fees are set at 110 yen ($0.60). Maximum deposits are limited to 1 million yen ($6,380) daily and 2 million yen ($12,760) monthly, the same limits apply to withdrawals.

Withdrawals are also unavailable if the PayPay money balance limit is exceeded, the announcement said.

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SoftBank is a major Japanese financial company, and it is actively exploring investment opportunities in crypto ventures.

Among its notable crypto investments, SoftBank has backed Twenty One Capital, one of the world’s largest publicly traded companies with Bitcoin (BTC) exposure, holding approximately 43,500 BTC ($3.7 billion).

The latest Binance Japan integration comes as SoftBank pushes for a PayPay listing in the US, with investors reportedly expecting its valuation to exceed 3 trillion yen ($20 billion) in a US initial public offering that could come as early as December.