China Renaissance in talks to raise $600 million for US-listed BNB treasury vehicle: Bloomberg
Quick Take
- China Renaissance is in talks to raise $600 million for a U.S.-listed BNB treasury company, according to Bloomberg.
- Based in Beijing but listed on the Hong Kong Stock Exchange, the Chinese investment bank previously allocated $100 million to a BNB treasury strategy.
Hong Kong-listed China Renaissance Holdings is in talks to raise about $600 million for a publicly listed vehicle in the U.S. dedicated to accumulating BNB, with YZi Labs (formerly Binance Labs) set to participate. The two plan to commit $200 million combined, Bloomberg reported on Monday.
If completed, the fundraiser would create a digital asset treasury company modeled on corporate crypto accumulation plays that have surged this year. The trend, pioneered by bitcoin-focused DAT Strategy, has attracted billions of dollars in capital so far.
Previously, China Renaissance announced its plan to invest approximately $100 million in BNB as part of a strategic cooperation with YZi Labs. The move positioned the entity as the first Hong Kong–based firm to explicitly include BNB in proprietary holdings, according to a company statement.
BNB-focused treasuries have also multiplied in recent months as the token tested record highs. CEA Industries last week disclosed 480,000 BNB and $663 million in combined crypto and cash holdings.
Launched in 2017 via an initial coin offering tied to Binance, BNB underpins the BNB Chain ecosystem and related applications. The Block’s price page shows the token floating around $1,313, close to its new all-time high and up over 8% today following last weekend's crypto market bloodbath.
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