Binance Founder Backs BNB Treasury Company Going Public in the US

Binance co-founder Changpeng Zhao’s family office, YZi Labs, will back a new treasury firm offering investors exposure to BNB, aiming to go public in the US. The company, named “The BNB Treasury Company,” will be managed by 10X Capital with David Namdar as CEO. The firm plans to announce financing details soon.

The BNB Treasury Company will give investors access to BNB, a token from Binance, the world’s largest crypto exchange. The move follows a trend of firms acquiring large amounts of cryptocurrencies like Bitcoin to provide Wall Street with digital asset exposure. The company seeks to open the US market to Binance by offering exchange-tied tokens.

Head of YZi Labs, Ella Zhang, believes expanding institutional access to BNB Chain, one of the largest blockchain ecosystems globally, will benefit the broader public. 10X Capital founder and CEO Hans Thomas highlighted the potential growth opportunities for investors in the US. The planned BNB treasury firm is set to secure financing in the coming weeks for its launch on a major US exchange.

Read more at Cointelegraph: Binance Founder Backs BNB Treasury Company Aiming For US IPO