Binance founder Changpeng Zhao has just revealed one of the most big-time crossovers yet between traditional Japanese fintech and global crypto: SoftBank and PayPay have gotten a 40% share in Binance Japan.
The announcement came with photos of CZ and SoftBank's legendary Masayoshi Son, both holding papers that mean a lot more than a standard agreement — this is a merger of two financial cultures that do not usually meet at this level.
PayPay is not just another payments app. It is Japan's biggest cashless system, with SoftBank's support, and over 70 million users. They already use it as their go-to mobile wallet for everyday transactions. That huge user base is now going to be the entry point for Web3. Binance is bringing in its blockchain infrastructure, and PayPay is providing the trusted rails that have been serving Japan's consumer economy for years.
What's the deal?
The practical impact starts right away. If you are a Binance Japan user, you will be able to buy crypto directly through PayPay Money and withdraw it back into the same wallet. This makes switching between yen and digital assets more like tapping your phone at a store than running a complex trade.
The execs said the deal was about more than just money — it was about culture too. They want to bring Japan's love of cashless payments together with Binance's ambitions in the Web3 world.
It is a proper capital alliance, nailed down, with SoftBank and PayPay backing almost half of Binance Japan's future. For the Japanese market, where regulation is strict but adoption is accelerating, this could be the most important crypto partnership of the year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team