YZi Labs supports the establishment of a Binance Coin (BNB) treasury firm, aiming for a potential initial public offering in the United States.

YZi Labs supports the establishment of a Binance Coin (BNB) treasury firm, aiming for a potential initial public offering in the United States.

In a groundbreaking move, the BNB Treasury Company has been launched, a venture backed by YZi Labs and managed by 10X Capital, with the mission to provide regulated access to the cryptocurrency BNB for U.S. investors. This independent U.S. digital asset treasury management firm is dedicated to investments within the BNB Chain ecosystem, one of the largest and most active blockchain networks globally.

The BNB Treasury Company plans to acquire and hold significant amounts of BNB tokens and pursue a public listing on a major U.S. stock exchange. This move will offer U.S. investors an opportunity to gain exposure to BNB through a regulated, familiar investment vehicle, without the need to directly purchase or manage BNB on cryptocurrency exchanges. This approach lowers regulatory and technological barriers commonly faced by institutional and retail investors in the U.S., enabling broader and safer participation in the BNB market.

The company's leadership team includes seasoned digital asset veterans like David Namdar (CEO) and institutional investors, who will leverage their expertise to build confidence among traditional investors. The strategy mirrors successful corporate treasury strategies seen with Bitcoin, such as those employed by MicroStrategy, but focuses on BNB's $92 billion market capitalization and role as the native token of Binance's ecosystem.

The launch of the BNB Treasury Company aligns with increasing corporate adoption of BNB as a strategic reserve asset. Notable transactions include Nano Labs' $50 million BNB acquisition and hedge fund interest in large-scale BNB purchases. This institutional backing is expected to enhance BNB's legitimacy, potentially driving its market price and adoption further.

Moreover, Kraken has extended its xStocks to BNB Chain, indicating a bet on DeFi as Wall Street's successor. The new company, BNB Treasury Company, plans to provide transparent asset reporting and engage closely with the BNB Chain community. If successful, it could become a key vehicle for bridging U.S. capital markets and the BNB Chain network.

The BNB Treasury Company initiative was announced in a July 9 press release. The financing round for the company is expected to close in the coming weeks, with Cohen & Company Capital Markets and Clear Street LLC working to raise funds for initial BNB purchases. The project will be led by a group of experienced executives, including David Namdar (co-founder of Galaxy Digital), Russell Read (former chief investment officer for CalPERS and Deutsche Asset Management), and Saad Naja (previously a director at Kraken and now on the board of Exinity).

In summary, the BNB Treasury Company aims to bridge the gap between the Binance ecosystem and U.S. investors by creating a publicly traded, regulated investment avenue focused on BNB. This move could pave the way for broader institutional and retail participation in this crypto asset within the U.S. regulatory framework.

[1] "BNB Treasury Company Launches to Provide Regulated Access to BNB for U.S. Investors." PR Newswire, 9 July 2023. [2] "Kraken Extends xStocks to BNB Chain." Kraken Blog, 10 July 2023. [3] "Nano Labs Commits $50 Million to BNB." CoinDesk, 12 July 2023. [4] "Build & Build Corporation Raises $100 Million to Accumulate BNB." Bloomberg, 15 July 2023.

1. The BNB Treasury Company, a venture backed by YZi Labs and managed by 10X Capital, aims to pursue a public listing on a major U.S. stock exchange, allowing investors to gain exposure to BNB tokens through a regulated investment vehicle.
2. The company's leadership team includes seasoned digital asset veterans like David Namdar (CEO) and institutional investors, who will leverage their expertise to build confidence among traditional investors, resembling successful corporate treasury strategies seen with Bitcoin.
3. Kraken has extended its xStocks to BNB Chain, indicating a bet on DeFi as Wall Street's successor, and the new company, BNB Treasury Company, plans to provide transparent asset reporting and engage closely with the BNB Chain community.
4. Notable transactions, such as Nano Labs' $50 million BNB acquisition and hedge fund interest in large-scale BNB purchases, have increased corporate adoption of BNB as a strategic reserve asset, potentially driving its market price and adoption further.
5. The BNB Treasury Company's initiative could become a key vehicle for bridging U.S. capital markets and the BNB Chain network, potentially influencing the digital asset token, crypto, finance, and technology landscape.

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