Binance Pay Enables USDT Payments at Japan's PayPay Merchants via HIVEX
Key Takeaways
- •Binance Pay enabled USDT payments at PayPay merchants in Japan starting September 30, 2026, with the service available to eligible overseas visitors.
- •The integration runs on HIVEX, a framework designed to link overseas QR-code payment services with PayPay's merchant network spanning millions of locations.
- •Merchants continue to receive settlement in Japanese yen, allowing retailers to accept the stablecoin without handling cryptocurrency, installing new equipment, or registering separately.
- •Binance stated it is the first digital-asset payment service to connect to PayPay merchants through the HIVEX framework.
- •Japan's 42.7 million international visitors in 2025, ninth worldwide and first in Asia, underscores the tourism payment market the integration aims to serve.
Binance Pay has gone live with USDT payments at merchants on Japan's PayPay network, extending stablecoin payments into one of the country's largest cashless payment ecosystems.
The service launched on September 30, 2026, and is available to eligible overseas visitors, who can now spend USDT at most merchants that accept PayPay. It runs on HIVEX, an interoperability framework that connects overseas QR-code payment services with PayPay merchants.
Customers pay in USDT through Binance Pay, while merchants continue to receive settlement in Japanese yen, with any conversion handled on the infrastructure side rather than at the register. The structure means retailers do not need to handle or hold cryptocurrency, and no changes to their existing payment setup are required — extending acceptance to everyday merchants, from restaurants to vending machines and taxis, without new equipment or onboarding.
Binance said it is the first digital-asset payment service to connect to PayPay merchants through HIVEX, with no separate merchant registration required on the retailer side.
PayPay is accepted at millions of locations across Japan, including retailers, restaurants, vending machines, taxis, and public transport. By placing USDT behind an local payment rail, the integration targets international visitors who already hold crypto while preserving the yen-based settlement system used by Japanese businesses.
USDT, issued by Tether and in circulation since 2014, is the world's largest dollar-pegged stablecoin and is widely used for crypto trading and cross-border transfers. Binance Pay is the payments arm of Binance, one of the largest cryptocurrency exchanges by trading volume. Japan introduced a legal framework for fiat-backed stablecoins in 2023, allowing issuance by licensed banks, money transfer agents, and trust companies.
The launch comes as Japan's inbound tourism reaches record levels. The country recorded 42.7 million international visitors in 2025, ranking ninth worldwide and first in Asia, underscoring the scale of the travel-payment market the integration is aimed at. For now, the service is confined to eligible overseas visitors and leaves merchant settlement untouched; as a framework built to link multiple overseas QR-code payment services with PayPay's network, HIVEX's lineup beyond Binance Pay is a natural point to watch as the model develops.
