Nano Labs is issuing $500 million in private convertible notes to form a $1 billion BNB reserve, aiming for up to 10% of BNB’s supply.
This substantial initiative signals a new milestone in institutional involvement with public blockchain assets.
Nano Labs Sets Ambitious BNB Acquisition Target
Nano Labs has signed a $500 million convertible notes subscription agreement, according to an official announcement. The notes mature in 360 days, earn no interest before maturity, and are convertible to Class A common stock at $20 per share. Proceeds will fund the purchase of $1 billion in BNB, the native coin of its namesake blockchain.
Nano Labs hopes to acquire up to 10% of BNB’s circulating supply.
“The Agreement marks an important step in the Company’s strategic growth. As part of this initiative, Nano Labs will conduct a thorough assessment of the security and value of BNB. In the initial phase, the Company plans to acquire US$1 billion worth of BNB via convertible notes and private placements. Over the long term, Nano Labs aims to hold 5% to 10% of BNB’s total circulating supply,” Nano Labs said.
This action reflects a growing institutional appetite for significant exposure to public blockchain assets.
The company stated that the new reserve will target five to ten percent of BNB’s circulating supply. If fully realized, this would mark one of the largest direct institutional purchases of a public blockchain’s native coin.
The notes’ flexible structure—no interest before maturity and an equity conversion feature—offers investors options. Depending on market developments, they can convert to equity later or redeem principal.
BNB’s Public Independence Drives Institutional Interest
Meanwhile, Changpeng Zhao (CZ), the co-founder of Binance, highlighted BNB’s status as an asset separate from Binance Holdings or its exchange. This distinction is increasingly important as institutions move to secure significant BNB positions, signaling a deeper market understanding.
“BNB is a public blockchain native coin, not ‘linked’ to Binance Holdings Ltd or Binance CEX..”Binance founder CZ wrote on X
Therefore, any institution—including Nano Labs—may freely purchase and use BNB, independent of Binance, the exchange.
“I heard about a few different companies doing this. So far, none are driven by me/us. But we are extremely supportive,” CZ said.
For both investors and the industry, BNB’s public chain status builds credibility among institutions seeking diversified blockchain exposure. It also shows that major asset acquisitions are made by external parties, rather than platform insiders or founders.
This independence contributes to regulatory clarity and market trust, encouraging other entities to pursue similar moves.
Nano Labs’ initiative sets a new standard for institutional activity in blockchain assets. If the company acquires its target of 10% of BNB’s circulating supply, market liquidity and valuation could shift considerably. Single-institution accumulations often impact market dynamics, and analysts will closely watch BNB’s supply concentration.
The convertible notes offer another way for investors to gain indirect BNB exposure, bridging traditional finance and blockchain markets. This could draw more conventional capital into digital assets.
Market watchers will monitor Nano Labs’ progress in acquiring BNB and any market changes that result. Meanwhile, Nano Labs is establishing itself as a leader in institutional investment within the public blockchain asset space.
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