TBCASoft and Binance Pay have announced a strategic cooperation aimed at expanding payment interoperability through the HIVEX network, an initiative designed to streamline digital payments across multiple markets. The partnership brings together TBCASoft's federated payment framework and Binance Pay's global payment ecosystem, enabling eligible users to conduct everyday purchases at participating merchants via a unified, interoperable infrastructure.

HIVEX, developed by TBCASoft, is a next-generation payment framework that links payment ecosystems, merchant networks, and acceptance partners while allowing each participant to retain its own governance, compliance policies, technical systems, and commercial relationships. The platform is designed to support secure interoperability without requiring organizations to replace their existing payment infrastructure — a capability that addresses a persistent fragmentation challenge in Web3 payments, where individual blockchain-based platforms have typically needed to build separate integrations with each merchant network or payment provider.

At launch, the partnership extends HIVEX-enabled payment rails to approximately 48 million Binance Pay users, with an initial rollout planned in Japan and long-term potential to reach Binance's broader ecosystem of more than 300 million users.

Federated Network Built for Cross-Market Payments

According to the companies, HIVEX is designed to facilitate interoperability among e-wallets, payment networks, and merchant acceptance platforms across different regions. Rather than requiring separate integrations between every payment provider and merchant network, the framework connects participants at the network level, offering a more scalable approach to expanding payment acceptance.

Under the cooperation, eligible Binance Pay users will be able to complete QR code-based transactions using both Customer Present Mode (CPM) and Merchant Present Mode (MPM) at merchant locations connected through HIVEX Acceptance Partners. This network-level integration is expected to reduce operational complexity while broadening payment acceptance across participating markets.

The companies indicated that this approach could eliminate the need for multiple bilateral agreements with individual merchant networks, making future expansion more efficient for payment providers and local acceptance partners.

Complementary Roles Across the Payment Ecosystem

The cooperation pairs Binance Pay's user-facing payment platform with HIVEX's merchant-side interoperability infrastructure. Binance Pay contributes a global payment ecosystem supported by identity verification, Know Your Customer (KYC) procedures, anti-money laundering (AML) measures, sanctions screening, transaction monitoring, and account security controls.

On the merchant side, HIVEX provides acceptance connectivity through licensed local partners while maintaining compliance with local regulatory requirements. The framework also incorporates Know Your Business (KYB) verification and AML controls across merchant jurisdictions, reinforcing regulatory compliance in participating markets.

By connecting payment ecosystems at the network level, the collaboration aims to expand merchant acceptance without requiring separate integrations between Binance Pay and each individual merchant network.

Each participant will retain operational independence under the federated model, the companies noted. Binance Pay will continue managing user relationships and user-side compliance responsibilities, while HIVEX and its local acceptance partners will oversee merchant acceptance, settlement, and adherence to applicable local payment regulations.

Japan Rollout Planned for Q3 2026

The initial deployment is scheduled to begin in Japan during the third quarter of 2026. Japan has established a regulatory framework for digital asset service providers under its Payment Services Act and is also one of Asia's more mature markets for QR code-based mobile payments, factors that make it a fitting launch market for interoperable Web3 payment rails. The launch is expected to demonstrate how a global digital payment platform can integrate with local merchant acceptance infrastructure through a secure, interoperable framework.

If successful, the companies intend to extend the model to additional markets and payment scenarios. Future expansion is expected to include new merchant categories, broader geographic coverage, and additional payment formats, subject to regulatory requirements and mutual commercial objectives.

Advancing Web3 Payment Adoption

The cooperation reflects ongoing efforts within the digital payments sector to improve interoperability between blockchain-based payment services and traditional merchant acceptance networks. Bridging crypto-native payment platforms with established merchant infrastructure has been a widely recognized challenge for Web3 payment adoption, as limited merchant acceptance and fragmented integrations have constrained real-world usability. By combining Binance Pay's global user ecosystem with HIVEX's acceptance infrastructure, the companies aim to provide eligible users with a secure, compliant payment experience while enabling merchants to tap into a broader base of digital payment users.

Both companies plan to expand the cooperation beyond Japan, with the goal of building a secure, compliant, and globally interoperable Web3 payment network across additional markets and payment use cases.