YZi Labs, the family office of Binance co-founder Changpeng Zhao, announced its support for a new investment venture aimed at giving investors exposure to BNB and plans to go public in the US.
Formation of the BNB Treasury Company
YZi Labs stated that it will support investment firm 10X Capital in creating a BNB Treasury Company. This project will be led by David Namdar, a senior partner at 10X Capital and co-founder of Galaxy Digital.
Goals and Strategy of the New Company
10X Capital will serve as the asset manager of the planned BNB company. The primary goal is to provide institutional and retail investors access to the growing BNB ecosystem, which is limited in the US.
Entry into the US Market
The new company expects to close its financing in the coming weeks. It is anticipated that this project will open access to the US market for Binance, marking a significant step in expanding BNB's presence among institutional investors.
The formation of the BNB asset management company represents a significant step in expanding Binance's influence in the US market and providing investors with a new way to participate in the cryptocurrency ecosystem.
