According to Bloomberg, China Renaissance Bank aims to raise $600 million for BNB investment.
Accordingly, China Renaissance Bank, a China-based investment bank, is in talks to raise $600 million for a Binance Coin (BNB) investment vehicle in which YZi Labs will also participate.
$200 Million Investment on the Way for BNB!
China Renaissance Holdings aims to raise approximately $600 million to establish a digital asset treasury centered on BNB.
The report also noted that the funds raised will be used to stockpile long-term BNB. China Renaissance and YZi Labs plan to contribute $100 million each, for a total of $200 million.
In August, China Renaissance announced a strategic partnership with YZi Labs Management Ltd to accelerate the development of the BNB Chain ecosystem and advance real-world asset (RWA) tokenization.
As part of the agreement, China Renaissance will allocate approximately $100 million to BNB, making it the first Hong Kong-listed company to explicitly include BNB as part of its proprietary digital asset allocation.
BNB, which has increased by 8.8 percent in the last 24 hours, continues to be traded at $1324 at the time of writing.
*This is not investment advice.