Binance Pay lets visitors spend crypto at PayPay merchants in Japan
Binance Pay will let overseas users spend more than 100 cryptocurrencies at PayPay-supported merchants in Japan through HIVEX, while stores receive yen.
[Update, 07:00 UTC, Sept. 30: This article was updated after Binance clarified that users can pay with more than 100 supported cryptocurrencies, while USDT is used as the backend settlement layer.]
Binance Pay will allow eligible overseas users visiting Japan to spend more than 100 cryptocurrencies at the vast majority of PayPay-supported merchants starting Wednesday.
The service will run through HIVEX, a payment interoperability framework that connects overseas QR payment services to PayPay-supported merchants in Japan. Binance Pay uses Tether USDt (USDT) as its backend settlement layer, while HIVEX settles with PayPay and PayPay settles merchants in yen.