24-6-2025 – Nano Labs, a Nasdaq-listed Web3 enterprise based in China, has set its sights on amassing a staggering $1 billion in Binance Coin (BNB). This audacious plan, poised to rank the firm among the most significant institutional holders of the token, signals a potential shift towards diversified crypto treasuries for companies traditionally tethered to Bitcoin. The announcement has electrified markets, with Nano Labs’ stock (NA) skyrocketing by 107% to approximately $22.5, a vivid testament to investor enthusiasm for this strategic pivot.
Backed by a $500 million convertible note deal
The initiative is already in motion, with Nano Labs securing a $500 million convertible note agreement to fuel its BNB acquisitions. These zero-interest notes, maturing in 360 days, can be converted into Class A shares at $20 each, blending conventional fundraising finesse with cutting-edge crypto ambition. This approach reflects the firm’s adept navigation of both traditional finance and the dynamic world of digital assets. Looking further ahead, Nano Labs has articulated an ambitious vision to hold between 5% and 10% of BNB’s total circulating supply, a goal that could reshape the token’s institutional ownership landscape.
From Bitcoin payments to BNB accumulation
This move comes on the heels of Nano Labs’ earlier foray into cryptocurrencies, when, in December 2024, the company began accepting Bitcoin payments for its services. While that decision hinted at crypto-friendly inclinations, the shift to acquiring BNB in such volume marks a dramatic escalation in strategy. With BNB currently valued at around $640, Nano Labs’ plan positions it to become a formidable non-exchange holder, amplifying the token’s credibility in institutional circles.
The firm is not alone in its pursuit of BNB. Just a day prior, former Coral Capital executives announced a $100 million fund aimed at acquiring the token for institutional portfolios, underscoring a burgeoning wave of interest in a cryptocurrency once overshadowed by Bitcoin and Ethereum. Nano Labs’ audacious strategy, however, stands out for its scale and ambition, hinting at a broader trend where Web3 firms diversify their treasury assets.
