Nano Labs Secures $500 Million to Accumulate $BNB

Nano Labs Ltd, a Web 3.0 infrastructure company, has announced a significant financial agreement, signing a $500 million convertible notes purchase deal. This strategic move is part of a broader initiative to accumulate Binance Coin ($BNB) worth up to $1 billion. The agreement involves several investors subscribing to unsecured convertible promissory notes issued by Nano Labs. These notes, which mature in 360 days, carry no interest and can be converted into Class A ordinary shares of the company at a price of $20 per share. If not converted, the full principal amount will be repaid at maturity. The conversion price is subject to adjustments according to the conditions provided in the note.

The issuance of these convertible notes is a key component of Nano Labs' strategy to integrate $BNB deeply into its operations. The company aims to conduct an in-depth evaluation of $BNB’s security, utility, and role in powering decentralized applications. By using the proceeds from the notes to begin accumulating $BNB, Nano Labs intends to establish one of the largest corporate treasuries in the ecosystem. This move positions Nano Labs as a significant player in the Web3 infrastructure, anchored in the $BNB ecosystem.

Nano Labs' announcement comes at a time when there is growing institutional interest in $BNB as a long-term digital asset reserve. The company's decision to become a $BNB-only strategic reserve public company aligns with its ambition to hold 5% to 10% of $BNB’s total circulating supply. This goal, while ambitious, underscores the company's confidence in $BNB's role in the Web3 landscape.

The strategic reserve initiative is not just a financial play for Nano Labs; it is part of a multi-phase strategy to integrate $BNB into its core operations. The company will use the proceeds from the notes to begin accumulating $BNB, with the goal of establishing one of the largest corporate treasuries in the ecosystem. Over time, this strategy could establish Nano Labs as a key Web3 infrastructure player anchored in the $BNB ecosystem.

In addition to its $BNB treasury strategy, Nano Labs has also revealed plans to enter the stablecoin sector. The company has applied for licenses to issue stablecoins pegged to the Hong Kong Dollar (HKD) and offshore Chinese Yuan (RMB). This move is part of Nano Labs' broader vision to support the development of a robust stablecoin ecosystem while strengthening the broader Web3 landscape. The firm aims to develop a technical framework for stablecoin issuance, focusing on high-performance networks like Bitcoin and $BNB.

The convertible notes issued under this agreement are unsecured, and the company has warned that the transaction is still subject to closing conditions. There is no guarantee that the full amount will be raised, or that the notes will be converted. However, this move sets Nano Labs apart from typical Web3 firms and places it closer to entities like MicroStrategy, which famously built a balance sheet centered on Bitcoin.