Nano Labs Aims to Raise $500 Million for BNB Reserve

Nano Labs, a Nasdaq-listed Web3 infrastructure provider, has announced a significant financial initiative to raise $500 million through the issuance of convertible notes. The primary objective of this fundraising effort is to build a strategic reserve in Binance Coin (BNB).

The company has signed a purchase agreement to issue zero-coupon convertible notes, which carry no interest and mature 360 days after issuance. Investors will have the option to convert these notes into Class A ordinary shares at an initial conversion price of $20 per share, subject to adjustment under the contract terms. If the notes are not converted within the specified period, Nano Labs will repay the full principal. The notes are unsecured, and the closing of the deal is not guaranteed.

In addition to the convertible notes, Nano Labs plans to acquire up to $1 billion worth of BNB. This acquisition will be funded through a combination of the proceeds from the convertible notes and privately raised capital. The firm is conducting a detailed review of BNB’s price behavior and network security as part of its strategic planning. Nano Labs aims to establish a long-term position in BNB’s supply chain, seeking to hold between 5% and 10% of the token’s total circulation. This strategy underscores the company's intent to integrate deeply into the BNB ecosystem as part of its broader expansion.

This move by Nano Labs follows a recent trend among firms targeting BNB as a treasury asset. Another group of former Coral Capital Holdings executives plans to create a $100 million BNB treasury through their new venture, tentatively called Build & Build Corporation, designed to manage the token reserve. These developments reflect a growing interest in crypto treasuries centered on BNB, with similar strategies already seen with other tokens such as Solana, Ethereum, and XRP.

Following the announcement, Nano Labs’ stock experienced a surge in trading, indicating increased confidence in BNB-related treasury models. Industry figures noted the rising interest in structured crypto holdings, with asset managers such as VanEck recently seeking regulatory approval to launch a spot ETF for BNB. If approved, this could further validate the token’s role in corporate financial planning. Binance co-founder Changpeng Zhao acknowledged the news but confirmed no participation in the fundraising.

Nano Labs’ strategy positions it among the early adopters of BNB-centric reserves. Its dual approach of using convertible notes and long-term holdings reflects a calculated entry into digital asset-backed corporate finance. This initiative not only strengthens Nano Labs’ financial position but also signals a broader acceptance of cryptocurrencies in traditional financial strategies.