YZi Labs, an investment vehicle and affiliate of Binance founder Changpeng Zhao (CZ), has announced support for 10X Capital in launching “The BNB Treasury Company.” The asset manager, which said the new venture will exclusively focus on BNB, has outlined listing plans on a major U.S. exchange. 10X itself will be the asset manager of the new BNB Treasury venture.
This new venture, if launched, will hold BNB reserves and grant American institutional investors exposure to the ecosystem of the world’s 4th-largest digital asset token by market cap. The plan follows the global trend set by companies like MicroStrategy in setting up a crypto-backed treasury.
10X Capital Assembles a Team to Lead the BNB Treasury
Former Galaxy Digital co-founder and crypto veteran, David Namdar, will serve as CEO. Other members of the team include Russell Read of Millennium Management, former Kraken director and CIO of 10X Capital, Saad Naja. 10X Capital will partner with Cohen & Company Securities, LLC, and Clear Street LLC to raise capital to fund the initial acquisition of BNB.
Head of YZi Labs Ella Zhang believes expanding institutional access to BNB can deliver meaningful benefits to the broader public. “BNB Chain is one of the most widely adopted blockchain ecosystems. By supporting this initiative, we aim to combine the strengths of the BNB ecosystem with 10X Capital expertise.” Zhang said while he supports the adoption of BNB as a treasury asset, YZi Labs remains selective in formal partnerships.
Founder & CEO of 10X Capital, Hans Thomas, said the BNB Chain is one of the highest performing assets globally, but United States investors have limited access to the growth of BNB. “We believe the time is right for a well-capitalized, institutionally managed, pure-play treasury company to emerge as a gateway between U.S. investors and decentralized innovation on BNB Chain.”
The Partnership Will Enhance Institutional Access, Liquidity
BNB powers one of the world’s most active blockchains. A publicly listed BNB treasury backed by YZi Labs will increase institutional access to BNB, creating a secure and regulated entry point. By enhancing large-scale institutional purchases, BNB’s liquidity and stability are ensured.
A venture, such as the BNB Treasury Company, will enhance greater institutional participation and engagement in the BNB ecosystem. More BNB holders mean more participants in lending, staking, and other services within the ecosystem. Not only does it strengthen the $BNB asset, but reinforces decentralization and resilience.
10X Capital Joins the List of Rising Crypto Treasury Companies
In establishing a BNB Treasury Company, 10X Capital joins the growing list of companies with a crypto-backed reserve, such as MicroStrategy, Metaplanet, and GameSquare, which recently announced the launch of an Ethereum-backed Treasury. 10X Capital’s focus on BNB instead of Bitcoin signals BNB’s maturation into a mainstream cryptocurrency.
It also highlights 10X Capital’s broader diversification strategy to enhance cash flow in an inflationary environment. The company believes that having a treasury vehicle appeals to mainstream investors, who view digital assets as a means to protect their wealth.
Experts expect more companies will launch a BNB Treasury if 10X Capital successfully meets its fundraising target. CZ previously said 30 teams were exploring BNB treasury listing projects, confirming the next wave of BNB-backed Treasury Companies. This could also trigger a broader trend for crypto-based treasury firms, expanding to other assets beyond BNB, Bitcoin, or Ethereum.
