YZi Labs, associated with Binance co-founders Changpeng Zhao and Yi He, is partnering with investment firm 10X Capital to create a publicly traded company in the US.

This new firm will focus on investments related to BNB, a cryptocurrency linked to Binance.

According to a statement from 10X Capital, YZi Labs, which oversees around US$10 billion in assets, will assist in forming the BNB treasury company.

Further details about the partnership have not been disclosed.

Representatives from both firms did not respond to requests for additional information.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Crypto treasury strategies are diversifying beyond Bitcoin

The BNB treasury initiative signals a significant evolution in corporate crypto treasury strategies that have historically centered on Bitcoin.

While Bitcoin treasury companies have gained substantial traction with approximately 135 public companies now holding Bitcoin as reserve assets 1, this marks a clear expansion of the model to other major cryptocurrencies.

Build & Build Corporation had already planned to invest $100 million in accumulating BNB before this announcement, deliberately mirroring MicroStrategy’s successful Bitcoin treasury strategy 2.

This represents a maturation of the crypto treasury landscape, as analysts have predicted that public companies could allocate up to $330 billion to Bitcoin alone over the next five years, up from $80 billion currently 3.

The diversification suggests growing institutional confidence in the longevity and utility of multiple cryptocurrencies beyond just Bitcoin, potentially opening the door for other top cryptocurrencies to be included in corporate treasury strategies.

2️⃣ BNB’s evolution from exchange token to treasury asset reflects crypto’s institutional maturation

BNB’s journey from a simple utility token to a $98 billion treasury asset demonstrates how quickly crypto business models can evolve and gain institutional recognition.

Initially launched in 2017 as an ERC-20 token offering trading fee discounts on Binance 4, BNB has transformed into the foundation of an entire ecosystem with its own blockchain, supporting thousands of applications.