SoftBank-Owned PayPay Acquires 40% Stake in Binance Japan to Bring Crypto to Everyday Users
Quick take:
- The acquisition combines PayPay’s massive user base of over 70 million with Bianance’s global blockchain experience.
- The two companies want to make it easier for everyday users in Japan to access crypto.
- PayPay offers “seamless: cashless payments at a wide range of merchants, online stores, and for peer-to-peer transfers in Japan.
PayPay Corporation, a portfolio company of SoftBank, has entered into a strategic partnership with Binance Japan to integrate crypto features into the PayPay Money wallet app.
As part of the strategic partnership, PayPay has acquired a 40% equity stake in Binance Japan, the companies announced on Thursday.
The partnership combines PayPay’s massive user base of over…
