Chinese blockchain infrastructure provider Nano Labs has entered into a $500 million convertible notes agreement to bolster its BNB token reserves, potentially acquiring up to 10% of the cryptocurrency's circulating supply.

Strategic BNB Accumulation Plan

The Nasdaq-listed firm revealed plans to purchase between $500 million to $1 billion worth of Binance's native token through a combination of convertible promissory notes and private placements. The 360-day notes carry no interest and can be converted into Nano Labs shares at $20 per share, with the company targeting long-term holdings of 5-10% of BNB's circulating supply.

——This marks one of the largest corporate moves into BNB holdings to date—— said a blockchain analyst familiar with the deal. The notes remain unsecured, with Nano Labs cautioning investors that full execution isn't guaranteed.

Market Reaction and CZ Endorsement

Binance founder Changpeng Zhao publicly acknowledged the initiative, noting Nano Labs' stock price surged 【106%】 following the announcement. While confirming no personal involvement in the funding round, Zhao expressed strong support for the strategic move.

The company's shares closed at $22.50 after the news, more than doubling from the previous day's $10.90 closing price. Market observers attribute this dramatic rise to growing institutional interest in BNB as both an investment asset and blockchain utility token.

BNB's Institutional Momentum

Nano Labs' treasury strategy follows recent developments in BNB's institutional adoption:

• Hedge funds raising $100M for dedicated BNB strategies

• VanEck's groundbreaking application for a US BNB ETF

• Standard Chartered's bullish price prediction of 100%+ growth in 2025

The convertible notes offering provides Nano Labs flexible capital to execute its BNB accumulation strategy while giving investors potential equity upside. Industry watchers suggest this could inspire similar corporate treasury moves among blockchain-focused enterprises.

As of press time, BNB maintains its position as the fourth-largest cryptocurrency by market capitalization, with the Nano Labs development adding fresh momentum to its institutional adoption narrative.