China Renaissance to Raise $600M for BNB Treasury

Chinese investment bank China Renaissance Holdings Ltd. is on its way to join the list of corporate crypto investors. According to Bloomberg, the Beijing-based financial services provider plans to raise a whopping $600 million for investment in Binance coin (BNB), the world’s third-largest cryptocurrency.

Notably, this move makes China Renaissance one of the first Asian companies to look to BNB as a reserve asset. Other companies from the continent, including Metaplanet, have opted for the world’s leading crypto, bitcoin (BTC), for their treasury.

$600M for BNB Reserve

To establish a BNB reserve, China Renaissance plans to create a U.S.-based subsidiary focused on accumulating BNB. The digital-asset treasury company would be publicly listed on the famous U.S. stock exchanges. Thus, investors seeking indirect exposure to BNB would acquire the company’s shares.

Notably, a few Asian companies had already adopted BNB as a reserve asset before China Renaissance. These include Nano Labs, which plans to spend $1 billion on BNB shopping over time to accrue between 5% and 10% of the total BNB supply.

Recall that CEA Industries is also on the list. The firm recently revealed that it holds about 480,000 BNB worth over $620 million and plans to hold 1% of the total BNB supply before the year ends.

Meanwhile, the world’s leading crypto remains American-based business intelligence firm, Strategy, which holds 640,250 BTC and enjoys over $25 billion in unrealized profits from its crypto reserve.

BNB Hits New All-Time High

Since the start of this year, BNB has doubled its value as many institutional and individual investors have switched attention to the token launched by one of the world’s leading crypto networks and centralized exchanges, Binance.

Following the sharp crypto market crash on Friday, driven by U.S. President Trump’s latest tariff enforcement on China, BNB witnessed a sharp drop to $880 as many investors panic-sold and closed their positions. However, the dip did not last for long as the token recovered its price within a few hours.

While many leading cryptocurrencies, including BTC, have struggled to recover their price before the crash, BNB soared massively to hit a new all-time high of around $1,370 on Monday, signaling renewed investor confidence in the asset.

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