China Renaissance "plays big": Invests 100 million USD in BNB, paving the way for traditional finance to enter Web3

China Renaissance (CR) – a publicly listed financial group in Hong Kong – has just signed a cooperation agreement with #YZILabs , an investment fund associated with Binance founder Changpeng Zhao (CZ), to invest 100 million USD in BNB. If completed, CR will be the first public company in Hong Kong to officially hold BNB.

Notable points:

Not only acquiring BNB, CR also plans to collaborate on developing the BNB Chain ecosystem, while establishing a hundreds of millions USD RWA fund aimed at applying $BNB into stablecoin and tokenizing real assets.

This is a signal paving the way for traditional financial institutions to access crypto, as BNB is considered one of the sustainable digital assets with a deflationary mechanism and stable staking/DeFi returns.

CZ affirmed: "This is not just an investment deal, but a long-term partnership to build the BNB ecosystem."

Market impact is evident: CR's stock (code 1911) rose more than 10% on August 23, achieving a growth of 304% since its listing. BNB also set a new ATH of 899 USD, currently fluctuating around 882 USD.

Although the cooperation agreement does not have legal binding, analysts believe this deal could set a precedent for many other listed companies in Hong Kong to enter Web3, while reinforcing BNB's position as one of the top cryptos after $BTC and $ETH .