Nasdaq-Listed Nano Labs Plans to Buy $1B in BNB — Aiming for 10% Supply Takeover!

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China-based Web3 firm Nano Labs is making a daring move by targeting Binance Coin (BNB). This Nasdaq-listed company has revealed plans to acquire up to $1 billion worth of BNB, setting the stage for what could become one of the largest institutional holdings of the token.

Could this be the start of a multi-asset treasury strategy for companies once focused solely on Bitcoin？

$500M Deal Marks the Start

To kickstart the plan, Nano Labs has entered into a $500 million convertible note agreement. These zero-interest notes will mature in 360 days and can be converted into Nano Labs Class A shares at $20 each.

Nano Labs, a Nasdaq-listed crypto mining chip design company, has entered into a $500 million convertible note agreement, aiming to accumulate BNB as part of its treasury strategy. The company plans to assess BNBs security and value and ultimately acquire up to $1 billion in…

This method blends traditional fundraising with modern crypto strategies, reflecting the companys growing comfort in both financial worlds.

Nano Labs isnt the only one eyeing Binance Coin. Just a day before their announcement, former Coral Capital executives were also raising $100 million to acquire BNB for institutional use.

This signals a rising tide of serious interest in a token that was once overlooked compared to Bitcoin and Ethereum.

From Bitcoin Payments to BNB Holdings

This move isn‘t out of nowhere. Back in December 2024, Nano Labs made headlines for accepting Bitcoin payments for its services. At the time, it wasn’t clear if they would ever hold crypto on their books.

But this new plan to acquire BNB in bulk shows a major strategic upgrade. The company has even revealed a long-term goal of owning 5% to 10% of BNBs total circulating supply.

Stock Price Soars by 100%

Following the announcement, Nano Labs (NA) stock surged 107%, currently trading at around $22.5, reflecting the markets growing excitement over institutional BNB interest.

With BNB currently trading around $640, the move could place Nano Labs among the most influential non-exchange BNB holders.