SoftBank’s PayPay Buys 40% Stake in Binance Japan to Fuse Crypto With Cashless Payments
SoftBank Group company PayPay, one of Japan’s largest digital payment apps, has acquired a 40% equity stake in Binance Japan as part of a new strategic partnership aimed at blending cashless payments with access to cryptocurrencies.
The move brings together PayPay’s 70 million users and its widespread merchant network with Binance’s blockchain infrastructure, integrating PayPay Money, a smartphone-based digital wallet, into Binance Japan to allow users to buy crypto and withdraw funds through the wallet.
The companies, plan to co-develop products that will allow users to seamlessly buy, sell, and store digital assets, according to an announcement.
“This strategic alliance represents a significant step toward the future of digital…
