Nano Labs Sets Sights on BNB Treasury With $500 Million Convertible Notes Deal

Nano Labs Ltd has launched a $500 million convertible notes offering to fuel its strategic acquisition of Binance Coin ( BNB), aiming to accumulate up to 10% of its circulating supply over time.

China’s Nano Labs Targets BNB Dominance With $500 Million Convertible Notes Strategy

Nano Labs Ltd (Nasdaq: NA), a Chinese web3 infrastructure and chip solution provider, announced a private placement of $500 million in convertible promissory notes to initiate an aggressive Binance Coin (BNB) treasury strategy.

According to the announcement, the company confirmed that this capital will be used to assess and potentially acquire up to $1 billion worth of BNB tokens, with a long-term goal of holding 5% to 10% of BNB’s total circulating supply. This bold strategy reflects a growing trend among tech firms to diversify treasury reserves into leading crypto assets as both a hedge and a growth catalyst.

The proposed notes will remain convertible at the discretion of the holders throughout the term. While the agreement is subject to standard closing conditions, Nano Labs has signaled its firm commitment to executing this shift toward crypto-based reserves.

Nano Labs previously made headlines for adopting bitcoin as a primary treasury asset. Its expansion into BNB positions it at the forefront of crypto-native treasury strategies in Asia. If successful, the firm would become one of the largest institutional holders of BNB globally.

Source