SKN | Binance Pay Expands USDT Spending Across PayPay Merchants in Japan

Key Points

• Binance Pay will allow eligible international visitors to spend USDT at the vast majority of PayPay-supported merchants in Japan.
• The service uses HIVEX to connect Binance Pay with PayPay-supported merchants, while retailers continue receiving settlement in Japanese yen.
• The rollout arrives as Japan maintains strong international tourism volumes, creating a broader potential use case for crypto-based payments.

Binance Pay is expanding cryptocurrency payment access in Japan by allowing eligible overseas users to spend Tether’s USDT at most merchants supported by PayPay, Japan’s major cashless payment network.

The service is scheduled to begin Wednesday and will operate through HIVEX, a payment interoperability framework that connects overseas QR payment platforms with PayPay-supported merchants. While customers can pay using USDT through Binance Pay, merchants will continue receiving their settlement in Japanese yen.

Binance Pay Connects to PayPay Merchant Network

Binance said the integration makes Binance Pay the first cryptocurrency payment service to access PayPay-supported merchants through HIVEX. Merchants will not be required to separately opt into the service, according to the company.

The arrangement allows the existing merchant infrastructure to serve international crypto users without requiring individual retailers to establish direct cryptocurrency payment systems.

PayPay is widely used across Japan, with acceptance spanning major retail chains, smaller businesses, vending machines, taxis and public transportation. PayPay currently identifies nine other overseas payment services supported through HIVEX, primarily serving users from China, Hong Kong and Taiwan.

Yen Settlement Keeps Merchant Operations Unchanged

The payment structure separates the customer’s funding asset from the merchant’s settlement currency. Binance Pay users can spend USDT, while merchants continue receiving Japanese yen.

This model potentially reduces the need for participating businesses to directly handle or hold cryptocurrency. For international visitors, it provides another payment route without requiring merchants to change their existing settlement arrangements.

The rollout also expands the potential utility of USDT beyond cryptocurrency trading and transfers by connecting the stablecoin to an established consumer payment network.

Tourism Creates Potential Payment Demand

The integration comes as Japan continues to attract large numbers of international visitors.

According to the Japan Tourism Agency, Japan welcomed a record 42.7 million international visitors in 2025. In the latest comparable global ranking based on 2024 data, Japan ranked ninth worldwide and first in Asia for international visitor arrivals.

Tourism remained substantial in 2026. Japan recorded approximately 3.1 million international arrivals in August, according to the Japan National Tourism Organization. The figure represented a 9.6% decline from the same month a year earlier, while total arrivals during the first eight months of 2026 reached 27.6 million, down 2.7% year over year.

For Binance Pay, access to a broad domestic merchant network could give international crypto users a practical spending option while traveling in Japan.

Outlook

The PayPay-HIVEX connection gives Binance Pay access to an established Japanese merchant ecosystem while keeping yen settlement on the merchant side. The structure could make cryptocurrency payments more accessible to international visitors without requiring widespread changes to existing retail payment infrastructure.

The longer-term significance will depend on user adoption, transaction volumes and the range of merchants accessible through the network. If usage expands, the integration could provide a notable bridge between stablecoin-based payments and Japan’s established cashless commerce infrastructure.