China Renaissance, YZi Labs Plan $600M US-listed BNB Treasury

China Renaissance, a Hong Konglisted investment bank, is seeking to raise about $600 million to form a U.S. listed digital asset treasury company that would buy and hold BNB, the native token of the BNB Chain, according to people familiar with the matter. The proposed vehicle would be structured as a publicly traded company designed to offer regulated institutional exposure to BNB and would be jointly capitalized by China Renaissance and YZi Labs, the rebranded venture unit affiliated with the family office of Binance cofounder Changpeng Zhao.

Reports said YZi Labs plans to invest alongside China Renaissance, with some accounts indicating a roughly $200 million commitment, while China Renaissance has already put $100 million of proprietary capital into BNB earlier this year. Additional funding is expected from institutional investors in Asia and the United States. Formal confirmation from China Renaissance has not been released.

The plan comes as BNB has posted strong gains this year, more than doubling in price, and has recently reached multiweek highs amid broader market volatility. BNB’s performance and rising onchain activity have coincided with a surge of interest in so...