BNB Chain Gets Treasury Boost as YZi Labs Backs New US Listing Venture | BSCN (fka BSC News)

YZi Labs, the investment firm tied to Binance co-founder Changpeng Zhao (CZ), announced support for 10X Capital in launching a BNB treasury company. The venture, described as the BNB Reserve Company, will aim for a public listing on a major U.S. stock exchange and is being structured as a regulated vehicle to give U.S. investors direct access to BNB, the world’s fourth-largest cryptocurrency by market cap.

This development adds BNB to the growing list of digital assets now forming the backbone of corporate treasury strategies, joining the likes of Bitcoin, Ethereum, and Solana.

The new entity will be led by David Namdar, a seasoned crypto executive and co-founder of Galaxy Digital, who currently serves as a senior partner at 10X Capital

10X Capital will take on the role of asset manager for the BNB Reserve Company, overseeing its treasury strategy and future listing efforts in the United States. YZi Labs will provide strategic support and capital.

The company’s focus will be on transparency, long-term holding, and building a reserve that can support the token’s liquidity and ecosystem growth. It also aims to reinforce trust and access for U.S. retail and institutional investors, many of whom remain underexposed to BNB despite its scale and market presence.

Institutional Exposure to BNB Gains Momentum

BNB—originally launched as Binance Coin—is the native token of the BNB Chain, a smart contract platform developed by Binance in 2019. Though the exchange remains closely associated with the token, it no longer manages or develops the blockchain itself.

According to Ella Zhang, head of YZi Labs, expanding access to BNB through institutional channels is a logical next step. "BNB Chain is one of the most widely adopted blockchain ecosystems. BNB is the gas, the glue, and the governance layer for a scalable, decentralized future ," Zhang said.

This initiative is part of a broader trend of crypto-native treasury companies entering public markets to offer regulated exposure to digital assets. Similar to MicroStrategy’s Bitcoin strategy, the BNB Reserve Company will focus exclusively on BNB, positioning itself as a long-term holder and strategic reserve.

Listing Plans Underway but Details Limited

While the firm has confirmed plans to pursue a public listing, details about the exchange or timeline have not been disclosed. YZi Labs and 10X Capital also did not reveal how much capital they intend to raise, though a statement suggests the initial financing round will close within weeks.

The move comes amid rising interest from both retail and institutional investors seeking exposure to digital assets beyond Bitcoin. BNB offers that exposure—backed by a high-utility blockchain ecosystem and strong on-chain activity—but U.S. investors have had limited access until now.

BNB’s Growing Role in Treasury Strategy

Publicly listed firms stockpiling crypto is no longer a Bitcoin-only game. While MicroStrategy helped normalize holding BTC on balance sheets, other firms are now turning to Ethereum, Solana, and increasingly, BNB.

In fact, Nano Labs, a Nasdaq-listed chip designer, recently announced plans to accumulate up to $1 billion in BNB, signaling serious institutional interest in the token. Its first purchase of $50 million was completed earlier this month.

BNB's strength lies in its utility and adoption. The token powers gas fees, decentralized apps, staking, and governance across the BNB Chain

CZ's Ties to BNB and the Bigger Picture

Although Binance is no longer responsible for the BNB token’s development, the association remains powerful. CZ revealed earlier this year that 98.48% of his crypto portfolio is held in BNB.

A Forbes report in June 2024 estimated that CZ owns over 94 million BNB tokens, accounting for more than 64% of BNB’s circulating supply

While CZ is currently barred from managing Binance following his plea deal with U.S. authorities over compliance issues, he reportedly remains one of the largest shareholders of the firm.