💰 SoftBank Advances in Web3: PayPay Acquires 40% of Binance Japan

After applying for a listing in the US in August, PayPay — SoftBank's mobile service — has acquired 40% of Binance Japan, the Japanese subsidiary of the world's largest cryptocurrency exchange.

➡️ What this means for the market

🟡 Binance Japan is now partially owned by PayPay and will be a jointly managed subsidiary.

🟡 There will be integration with PayPay Money, allowing users to buy and sell cryptocurrencies directly.

🟡 This synergy between fintech and crypto transforms PayPay into a comprehensive digital financial platform.

➡️ Business scale

🟡 Launched in 2018, PayPay already has 70 million users.

🟡 In 2024, it processed 380 million transactions (+36% compared to 2023).

🟡 Binance Japan currently accepts deposits and withdrawals in yen, but PayPay will bring new payment methods.

➡️ Global ambitions

🟡 PayPay enters the South Korean market in September.

🟡 The company has also filed for a confidential IPO with the US SEC, preparing for an international listing.

📈 Context

After the announcement, BNB rose 26% in a week, reaching $1,300.

💡 The merger between traditional fintech and crypto in Japan is a sign of institutional adoption of Web3.

Cryptocurrency Showcase 💸$BNB