Binance Pay Enables USDT Spending at Japan's PayPay Merchants via HIVEX
Key Takeaways
- •Starting Sept. 30, Binance Pay users visiting Japan can spend Tether's USDT at eligible merchants across the PayPay network.
- •The service runs through HIVEX, a payment interoperability framework, with travelers paying in USDT while merchants receive settlement in Japanese yen.
- •The feature is limited to Binance users from outside Japan, and Japanese residents using Binance Japan are excluded from the service.
- •The integration leverages PayPay's existing QR-code acceptance infrastructure, so merchants do not need to register separately for Binance Pay or adopt a new payment system.
- •Stablecoins make up more than 98% of Binance Pay's business-to-consumer payment volume, and cumulative transaction volume exceeded $280 billion by mid-2026, according to CoinDesk research based on Binance data.
Binance Pay users visiting Japan will be able to spend Tether's USDT at merchants on the PayPay network starting Sept. 30, extending cryptocurrency to everyday purchases across the country.
The service connects Binance Pay with PayPay's merchant network through HIVEX, a payment interoperability framework. Travelers pay in USDT — Tether's dollar-pegged stablecoin — while merchants receive settlement in Japanese yen. According to Binance's launch announcement, the integration removes the need for individual merchants to register separately for Binance Pay.
USDT reaches Japan's payment network
The feature targets Binance users from outside Japan. Japanese residents using Binance Japan are excluded, according to the launch details.
PayPay says HIVEX connects overseas QR-code payment services with its merchant network, which already accepts several international services, including UnionPay App and WeChat Pay. QR-code payment is a widely used payment method in Japan, giving overseas services an established offline acceptance channel. Details published by PayPay show the framework works at eligible merchants nationwide, with money-only merchants and online payment merchants excluded.
The integration therefore builds on existing payment infrastructure rather than requiring stores to adopt a new crypto payment system.
Stablecoins move closer to everyday spending
The rollout underscores the growing role of stablecoins in crypto payments. USDT is the largest stablecoin by market capitalization, and its availability at physical checkouts marks another step toward retail use. Binance Pay supports USDT alongside other digital assets and has increasingly focused on linking crypto balances with local payment networks.
CoinDesk has reported, based on Binance data, that stablecoins account for more than 98% of Binance Pay's business-to-consumer payment volume. The same research found the company processed more than $280 billion in cumulative Binance Pay transaction volume by mid-2026.
For travelers, the Japan launch could simplify spending by removing the need to convert crypto into yen before each purchase. Merchants, meanwhile, can continue operating through PayPay's existing acceptance infrastructure.
The development comes as Japan's digital payment ecosystem broadens its support for overseas payment services. PayPay said in September that its HIVEX network could allow payment services used by international visitors to connect with PayPay merchants nationwide.
The Binance Pay integration adds a crypto-native payment option to that growing network, with USDT serving as the settlement asset for overseas users while Japanese merchants continue receiving yen. Any changes to merchant eligibility or supported assets would come through updates from Binance or PayPay.
Source: CryptoMeter io
