CZ-Backed YZi Labs Backs Launch of BNB Treasury Firm with IPO Ambitions
A new BNB-focused treasury company is in the works, with ambitions to go public on a major U.S. stock exchange—backed by YZi Labs, the venture arm closely linked to former Binance CEO Changpeng “CZ” Zhao.
In a joint announcement on Wednesday, YZi Labs confirmed its support for 10X Capital in launching what’s being called the BNB Treasury Company. The goal: to give U.S. investors direct exposure to BNB, the world’s fourth-largest digital asset by market capitalization, and the backbone of the BNB Chain ecosystem.
10X CapitalThe announcement stopped short of revealing key details, such as the targeted stock exchange or the amount of capital the new entity plans to raise. But the intent is clear—bring BNB, a token traditionally more common in crypto-native circles, closer to mainstream institutional investors via traditional financial markets.
Riding the Treasury Company Trend
The move reflects a broader trend of crypto-aligned firms creating treasury companies to stockpile digital assets as long-term strategic reserves. Michael Saylor’s company, Strategy (formerly MicroStrategy), blazed this trail with its massive Bitcoin accumulation. Others have followed suit, including Nano Labs, a Nasdaq-listed chipmaker that recently disclosed a $50 million BNB purchase—equating to 74,315 tokens at an average price of $672.45. Nano Labs now holds around $160 million in digital assets.
BNB Treasury Company hopes to mirror that model, but with a focus solely on the BNB ecosystem.
“BNB Chain is one of the most widely adopted blockchain ecosystems,” said Ella Zhang, head of YZi Labs. “BNB is the gas, the glue, and the governance layer for a scalable, decentralized future—powered by builders, for builders. We believe expanding its institutional access can deliver meaningful benefits to the broader public.”
Strong Leadership, Deep Pockets
The company will be co-managed by David Namdar, a senior partner at 10X Capital and co-founder of Galaxy Digital. Namdar brings a wealth of experience in both traditional finance and digital assets.
YZi Labs—formerly Binance Labs—currently manages over $10 billion in assets. Since stepping down as Binance CEO, CZ has taken a more active role in the firm, describing it as a “purely family office investment vehicle.”
Despite its strong ties to CZ, YZi Labs stressed it remains selective with formal partnerships.
“We will only communicate any official collaborations through our official channels,” Zhang noted.