Investment bank China Renaissance Holdings is in talks to launch a new investment product linked to the cryptocurrency BNB. It is known that YZi Labs, previously known as Binance Labs, also intends to join this initiative.
This is reported by Business • Media
Attracting significant capital for digital assets
According to preliminary information, funding of up to $600 million is planned to create a public investment vehicle aimed at accumulating BNB. China Renaissance and YZi Labs plan to invest a total of $200 million in this project.
“If the deal is successful, the $600 million raised will be used to establish a so-called digital asset treasury company in the U.S.—a public instrument designed for accumulating BNB,” journalists noted.
BNB market activity is increasing
In addition to this deal, several companies have previously announced their intentions to invest in BNB. For example, CEA Industries and 10X Capital, supported by YZi Labs, announced a private placement of shares worth $500 million and the issuance of warrants worth $750 million for the further development of the BNB reserve.
Additionally, former Binance CEO Changpeng Zhao recently emphasized that neither he nor his associated companies have influenced the market dynamics of BNB.