Binance’s Takeshi Chino noted that they are looking to “bring Web 3 to more people across the country.”
Users will be able to purchase cryptocurrencies with the “PayPay Money” feature on Binance.
PayPay Corporation, the Japanese digital payments company of the SoftBank group, has acquired 40% of Binance Japan, the Japanese subsidiary of the global cryptocurrency exchange Binance, consolidating a strategic alliance of both capital and business.
The agreement aims to unite PayPay’s base of more than 70 million users with Binance technology, creating a bridge between traditional payments and digital assets.
Within the framework of this decision, both companies will develop integrated products and servicesallowing users to operate with both fiat currency and cryptocurrencies.
Among the first measures, Binance Japan users they will be able buy cryptocurrencies directly with PayPay Money within the exchange, as well as use this same option to withdraw funds when selling your digital assets.
“By bringing together PayPay’s scale of users with Binance’s innovative technology, we can bring Web3 to more people across the country and provide digital asset services,” pointed out Takeshi Chino, general manager of the Japanese subsidiary of Binance.
PayPay Corporation, a Japanese digital payments company backed by the SoftBank group, specializes in offering mobile payment solutions through its application. Founded in 2018, the firm allows its users to make cashless transactions in physical stores and online.
PayPal’s acquisition of part of Binance is evidence increasing global interest in incorporating cryptocurrencies into digital transaction systems and strengthen financial infrastructure.
Similarly, Kazakhstan has shown interest in Binance, advancing its digital asset adoption strategy with state initiatives such as the Alem Crypto Fund, a fund that, as reported by CriptoNoticias, made its first investment in BNB, the token powered by the exchange.