YZi Labs Supports BNB Treasury Company in the US
YZi Labs, the investment vehicle managing over $10 billion in assets globally, announced its support for 10X Capital’s establishment of the BNB Treasury Company, an independent US initiative focused exclusively on digital asset treasury management within the BNB Chain ecosystem. The company aims to pursue a public listing on a major US stock exchange, according to a statement released on Wednesday.
1. YZi Labs’ Strategic Support and Acquisition
YZi Labs has officially announced its involvement in 10X Capital's initiative, helping accelerate the development of the BNB Treasury Company. Raj Parekh, CEO and co-founder of Portal, will transition to the role of head of payments and stablecoins at Monad Foundation, bringing extensive expertise from his previous role as Visa's global crypto product director.
2. BNB Treasury Company’s Objective
The BNB Treasury Company aims to provide US investors with access to BNB, the world’s fourth-largest digital asset by market capitalization, addressing the lack of institutional and retail access to the high-performance blockchain ecosystem. This initiative could represent a major step towards mainstream adoption of BNB Chain assets through traditional financial markets.
3. Increasing Institutional Investor Engagement
Keone Hon, co-founder and GM of Monad Foundation, emphasized the strategic importance of payments in driving broader crypto adoption: "Payments are a killer use case for blockchains and present an exciting unlock for widespread crypto adoption."
4. Strategic Significance of the Initiative and Organizational Model
The BNB Treasury Company will be led by a veteran management team with extensive digital asset and institutional investment experience. This leadership includes David Namdar, senior partner at 10X Capital, and Russell Read, CIO of 10X Capital, who has prior experience as CIO at major financial institutions like CalPERS.
5. Risks and Opportunities from Focusing on a Single Blockchain Network
While this initiative presents significant opportunities, it also carries risks as BNB is intrinsically tied to Binance’s ecosystem and its regulatory standing. This could create volatility for public shareholders. However, the success of companies like Nakamoto suggests that the market is ready for this model.