China Renaissance, a major Hong Kong–listed investment bank, has made a significant move into digital assets with a $100 million allocation to Binance Coin (BNB). The deal makes it the first financial institution of its kind in Hong Kong to hold the token directly on its balance sheet.
China Renaissance, a major Hong Kong–listed investment bank, has made a significant move into digital assets with a $100 million allocation to Binance Coin (BNB). The deal makes it the first financial institution of its kind in Hong Kong to hold the token directly on its balance sheet.
The bank signed an agreement with YZi Labs, the venture firm formerly known as Binance Labs, to build regulated pathways for BNB in the region. Under the deal, YZi Labs will provide the crypto-native expertise while China Renaissance works to list BNB on Hong Kong’s licensed exchanges and create compliant, institution-grade fund products tied to the asset.
By holding BNB directly, the bank gains access to the token’s utility across its blockchain network for things like transaction fees and governance. YZi Labs will also connect China Renaissance to its network of vetted infrastructure providers and custody services.
As part of the partnership, the bank plans to work with other Hong Kong–listed companies to develop BNB-based applications, including stablecoin integrations and the tokenization of traditional assets. This initiative aims to build out BNB’s financial use cases within a regulated framework, with partners like China Asset Management expected to help bring BNB-based products into traditional investment channels.
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The announcement coincided with price action in BNB. The token traded at $888.63, marking a 4.1% daily gain, with market capitalization rising to $123.77 billion, at the time of writing. Trading volume jumped 40.28% to $3.65 billion, reflecting heightened activity around the asset.
BNB Bulls Celebrated an $881 ATH While Resistance Played Defense
In addition to the price movement, the technical indicators remain positive. The RSI (14) stood at 64.21, signaling strong but not extreme buying pressure.
The MACD line, at 3.6, trended upward toward the signal line, at 26.4, suggesting continued momentum. Analysts note that if BNB holds support above $860, it might set the stage for a test of the $920–$950 resistance range.
