Binance Pay has partnered with the HIVEX network, developed by TBCASoft, to allow users to spend USDT at merchants across Japan. The integration connects digital asset wallets to PayPay, the largest mobile payment platform in the country, enabling payments at millions of locations.
The system uses a QR-code bridge provided by HIVEX to convert cryptocurrency into Japanese yen at the point of sale. Merchants receive payments in local currency, while users pay with USDT. The rollout is scheduled for the third quarter of 2026.
Compliance duties are divided between the partners. Binance Pay manages user-side requirements, including KYC and sanctions screening. HIVEX and its local partners oversee merchant-side regulatory compliance to ensure adherence to Japanese financial laws.
The service is currently accessible to approximately 48 million eligible Binance Pay users. Binance maintains a broader global base of over 300 million accounts, with potential for future expansion. The company has operated in Japan since 2025.
