Huge Interest in This Altcoin in China: Giant Bank Announces Plans to Invest 600 Million in Popular Altcoin!

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.