Nano Labs Ltd has initiated a strategic pivot toward blockchain-native assets by announcing plans to sell $500 million in convertible notes earmarked for Binance Coin (BNB) treasury expansion. The company aims to acquire sufficient BNB to represent 5-10% of the cryptocurrency’s circulating supply.
The private placement involves non-interest-bearing notes maturing in 360 days, convertible into Class A shares at $20 per share. Nano Labs intends to deploy proceeds toward acquiring up to $1 billion worth of BNB initially, signaling strong institutional confidence in BNB’s long-term value proposition.
Market reaction has been positive following public endorsement from Binance CEO Changpeng Zhao (CZ) on social media. This move aligns with a growing trend of publicly traded companies diversifying treasury reserves into cryptocurrency assets.
Investors are advised to balance potential equity conversion benefits against inherent regulatory uncertainties and cryptocurrency market volatility when evaluating participation.