HIVEX has made it possible for overseas visitors to use USDT at many PayPay-supported stores across Japan, with Binance Pay handling the transactions. The payment system links foreign QR systems directly to local retailers. That arrangement brings a big portion of the country’s retail network within reach of travelers holding the stablecoin, while shops continue to receive their payments in yen.
Cointelegraph reports that the service launches on Wednesday, with Binance saying it marks the first crypto payment service to reach PayPay merchants via HIVEX. The firm adds that stores won’t require any separate sign-up process.
How the system works
HIVEX is the payment interoperability framework that links overseas QR payment services to Japanese merchants who accept PayPay. Customers pay using USDT, a stablecoin tied to the dollar, which the system then turns into yen for the merchant.
Overseas users can pay with USDT at most PayPay-supported shops without switching to local money. Stores keep getting paid in yen, their native unit, so the way they get settled stays the same — they never handle foreign coins themselves.
Overseas users who are eligible can now use Binance Pay while they visit Japan. The service has gone live beginning Wednesday, and the company says it is the first crypto payment service to reach PayPay merchants through HIVEX.
PayPay’s reach in Japan
PayPay is a cashless payment service from Japan that works at millions of places across the country. It covers major chains, small stores, vending machines, taxis and public transport.
Nine additional overseas payment services are listed under HIVEX support, mostly from China, Hong Kong and Taiwan. They demonstrate the framework’s current reach, while Binance Pay remains the first crypto service to sign on.
The outcome for visitors is straightforward: a single wallet can now be used across a large share of Japan’s retail market, with no need for each shop to establish its own crypto account separately.
Travel numbers in Japan
According to the Japan Tourism Agency, the country received a record 42.7 million international visitors in 2025. Based on 2024 data, it placed ninth in the world’s most recent comparable global ranking, and was the top destination in Asia.
In August, the nation registered 3.1 million visitors, which marks a decline of 9.6% compared with the same month last year. The count for the first eight months of 2026 now stands at 27.6 million, a decrease of 2.7%, per data from the Japan National Tourism Organization.
These travel numbers shape the setting for a service designed for people who visit the country. A high point was followed by a fall, yet Japan remains among the world’s most visited places. A payment system that covers the whole nation removes one obstacle to spending for those traveling there.
What this change changes
The most significant change is that merchants no longer have to register individually to process USDT transactions. That eliminates a hurdle for both sellers and buyers.
Binance Pay’s status as the first crypto service on HIVEX sets it apart. The platform already links payments from China, Hong Kong and Taiwan, though none of those had crypto services before.
It remains uncertain whether the setup will work out to lower prices for customers.
Related news
Laser Digital got Japan’s first crypto exchange approval in four years.
A broader pattern appears to be emerging from the sequence of events: Japan’s financial authorities have been shifting toward more transparent rules governing crypto.
Key facts
- Service start: Wednesday
- Supported coin: USDT (Tether)
- Merchant network: Most PayPay-supported locations in Japan
- Settlement currency: Yen
- Visitors in 2025: 42.7 million (record)
- August arrivals: 3.1 million, down 9.6% from a year earlier
- First eight months of 2026: 27.6 million, down 2.7%
What to watch next
- Whether other crypto services decide to copy Binance Pay’s move onto HIVEX
- If the framework catches on as a standard means for travelers to spend stablecoins across borders
Binance Pay currently stands as the first crypto service to appear on the platform, which puts it ahead of competitors in a field where cross-border payments are growing more frequent.
Wednesday marks the launch of the service, which means holders of USDT in their wallets can now use it to pay at most PayPay-supported merchants across Japan.
Source material: “Binance Pay lets visitors spend USDT at PayPay merchants in Japan,” Cointelegraph.
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