The post Nasdaq-Listed Nano Labs Plans to Buy $1B in BNB — Aiming for 10% Supply Takeover! appeared first on Coinpedia Fintech News
China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB). This Nasdaq-listed company has revealed plans to acquire up to $1 billion worth of BNB, setting the stage for what could become one of the largest institutional holdings of the token.
Could this be the start of a multi-asset treasury strategy for companies once focused solely on Bitcoin?
$500M Deal Marks the Start
To kickstart the plan, Nano Labs has entered into a $500 million convertible note agreement. These zero-interest notes will mature in 360 days and can be converted into Nano Labs’ Class A shares at $20 each.
This method blends traditional fundraising with modern crypto strategies, reflecting the company’s growing comfort in both financial worlds.
Nano Labs isn’t the only one eyeing Binance Coin. Just a day before their announcement, former Coral Capital executives were also raising $100 million to acquire BNB for institutional use.
This signals a rising tide of serious interest in a token that was once overlooked compared to Bitcoin and Ethereum.
From Bitcoin Payments to BNB Holdings
This move isn’t out of nowhere. Back in December 2024, Nano Labs made headlines for accepting Bitcoin payments for its services. At the time, it wasn’t clear if they would ever hold crypto on their books.
But this new plan to acquire BNB in bulk shows a major strategic upgrade. The company has even revealed a long-term goal of owning 5% to 10% of BNB’s total circulating supply.
Stock Price Soars by 100%
Following the announcement, Nano Labs (NA) stock surged 107%, currently trading at around $22.5, reflecting the market’s growing excitement over institutional BNB interest.
With BNB currently trading around $640, the move could place Nano Labs among the most influential non-exchange BNB holders.