YZi Labs and 10X Capital Launch BNB Treasury Company Targeting US IPO for Regulated BNB Exposure

YZi Labs, CZ’s family office managing over $10 billion in assets, has announced its support for 10X Capital in launching the BNB Treasury Company, a US-based entity dedicated to acquiring and holding BNB—the native token of the BNB Chain ecosystem.

The company aims to pursue a public listing on a major US stock exchange, creating a regulated investment vehicle for institutional and retail investors to gain exposure to BNB without directly accessing the crypto markets. BNB is currently the world’s fourth-largest digital asset by market capitalization.

Ella Zhang, Head of YZi Labs, emphasized the strategic vision, stating, “We are excited to support 10X Capital in creating the BNB Treasury Company, which will provide investors with a unique opportunity to participate in the growth of the BNB Chain ecosystem through a regulated, publicly listed entity”.

The BNB Treasury Company will be led by an experienced team including David Namdar (CEO, formerly Head of Capital Markets at Galaxy Digital), Russell Read (CIO, former CIO of CalPERS), and Saad Naja (formerly of Kraken). 10X Capital will serve as the asset manager of the company.

Key Highlights of the Initiative:

• US-based entity focused solely on holding BNB

• Targeting a US IPO to provide regulated BNB exposure

• Team includes veterans from Galaxy Digital, CalPERS, and Kraken

• Backed by YZi Labs and managed by 10X Capital

• Committed to transparent holdings and regular public disclosures

• Active engagement with the BNB Chain ecosystem

Driving the Equity Tokenization Movement

The launch of the BNB Treasury Company aligns with a broader trend in equity tokenization—using blockchain to represent asset ownership through regulated financial vehicles. By listing on a US stock exchange, the BNB Treasury Company will offer a new route for American investors, including pension funds and asset managers, to gain access to BNB through traditional brokerage accounts.

Hans Thomas, CEO of 10X Capital, stated: “The BNB Treasury Company represents a groundbreaking step in bringing digital assets to mainstream investors, combining the innovation of the BNB Chain with the rigor of traditional financial markets.”

This model mirrors strategies used by companies like MicroStrategy, which holds large amounts of Bitcoin as part of its corporate treasury and is publicly traded.

Market Comment

Jesse from AI & DeFi Research called the move a medium-term bullish signal for $BNB. He emphasized that the BNB Treasury Company will focus on just one thing: buying BNB and allowing US investors to gain exposure through a stock listing.

He also noted that 10X Capital previously helped bring Bitcoin treasury firm Nakamoto (NAKA) to the Nasdaq. The team behind the initiative—led by Namdar, Read, and Naja—has proven experience in both crypto and traditional finance.

According to Jesse, BNB’s underperformance relative to assets like $COIN in recent cycles is largely due to the lack of regulated investment pathways for US investors. This new structure directly addresses that gap.