B Strategy to Launch US-Listed BNB Treasury Company, Targets $1B Raise

Digital assets investment firm B Strategy announced plans yesterday to launch a U.S.-listed company to act as a corporate BNB treasury and investment vehicle for the BNB ecosystem. With the strategic support of YZi Labs, the venture capital firm formerly known as Binance Labs, the treasury company is aiming to raise $1 billion.

While some treasury strategies focus on accumulation and maximising yield on their treasury asset, B Strategy intends to use the publicly listed company's "capital and resources to actively foster ecosystem growth by investing in core technology development, providing grants for innovative projects, and supporting community initiatives," according to a press release shared with Blockhead.

B Strategy’s extensive Asia-Pacific footprint—spanning Hong Kong, ASEAN, the Middle East, and other key markets—to access deep pools of liquidity, market intelligence, and distribution, enabling follow-the-sun execution and coverage for global investors. The initiative has already attracted strong regional backing, with several prominent Asia-based family offices serving as anchor investors in the initial funding.

Team of Crypto and TradFi Veterans

The venture is led by a team with deep roots in both the crypto-native and traditional finance worlds.

• Leon Lu, founder of B Strategy, is also the co-founder of the Nasdaq-listed Metalpha Technology Holding (MATH). He previously managed a Bitmain-seeded crypto stocks fund that achieved a276% return in approximately 24 months. His background includes roles at Morgan Stanley Securities (China) and Bernstein.
• Max Hua, co-founder of B Strategy, is the former CFO and rotating CEO of mining hardware giant Bitmain. Before his time at Bitmain, he was a partner at law firm Shearman & Sterling LLP, with 15 years of experience in capital markets and IPO advisory.

"By combining our crypto-native expertise, APAC distribution, and U.S. public-market discipline, we believe now is the right time to establish a well-capitalized, institutionally managed, pure-play listed vehicle," said Leon Lu.

Institutional Focus and Strategic Backing

The choice of a U.S.-listed vehicle is a direct appeal to institutional investors seeking transparent and regulated access to the digital asset class. Max Hua stressed the importance of robust governance, drawing on his experience at Bitmain.

"Drawing on my years working with the most prominent Bitcoin miners globally, I've seen the true scale of demands for industrial-grade governance, transparent reporting, and bank-level controls," Hua stated. "We're bringing that operator's discipline to the company."

The project's credibility is further bolstered by the support of YZi Labs, which manages over $10 billion in assets and holds a portfolio of over 300 projects globally.

"BNB is emerging as the cornerstone utility for the next generation of capital markets and financial systems," said Ella Zhang, head of YZi Labs. "B Strategy, led by crypto + tradfi OGs with a deep-rooted belief in Bitcoin and BNB, is uniquely positioned to amplify this momentum."

The initiative has already secured backing from several prominent Asia-based family offices as anchor investors. B Strategy expects to announce the closing of its related financing in the coming weeks.