Binance Pay partners with PayPay to enable overseas visitors in Japan to spend USDT at merchants via HIVEX.
Ecosystem ·
Binance Pay has partnered with PayPay to allow eligible overseas visitors in Japan to use USDT at PayPay merchant locations through HIVEX, a payment integration platform. The initiative marks an expansion of stablecoin utility in the Japanese market, where crypto assets are being reclassified as financial instruments under updated securities regulations.
The arrangement enables tourists to convert and spend digital assets at physical merchants without requiring traditional payment methods. This occurs amid Japan's broader shift toward mainstreaming digital assets, which includes tax reforms dropping the maximum effective rate from 55% to a flat 20% on crypto gains and the opening of pathways for crypto-linked exchange-traded funds.
The specifics of which overseas markets qualify, transaction limits, and the full rollout timeline remain unclear. The partnership's scale—whether it will expand to additional payment providers or support other stablecoins—has not been detailed.