The service operates through the HIVEX platform, which connects foreign services with local merchants. Binance Pay converts tokens into USDT, after which they are converted into yen for settlements with merchants. At the same time, companies do not need to connect to the service separately.
In 2025, Japan was visited by a record number of foreign tourists — 42.7 million people. PayPay is accepted at millions of locations across the country, including major chains, small shops, vending machines, taxis, and public transportation. HIVEX also supports nine other foreign payment services from China, Hong Kong, and Taiwan.