Overview
- Bloomberg reports that the Hong Kong-listed bank is in talks to form a publicly traded U.S. company that would buy and hold BNB rather than trade it, with terms still under discussion.
- YZi Labs, linked to Binance co-founder Changpeng Zhao, is expected to co-lead with a combined seed commitment around $200 million, commonly described as roughly $100 million each.
- The initiative builds on China Renaissance’s August disclosure that it committed about $100 million of corporate funds to BNB on its balance sheet.
- BNB jumped to an all-time high near $1,370 after the reports and then retraced, with a roughly 6% daily slide noted Tuesday during broader market volatility.
- If finalized, the vehicle would join a growing set of listed BNB treasuries such as CEA Industries, and analysts frame the push as part of Asia’s tilt toward ‘infrastructure’ tokens tied to transaction flow.