By
Kylie PurcellUpdated
Company name | BNB held | Date of last disclosure | Country of HQ | Sector/Industry | |
|---|---|---|---|---|---|
0 (US$700m committed) | UK | Health Technology | |||
418,888 | US | Producer Manufacturing | |||
128,000 | CN | Electronic Technology | |||
0 (Up to US$500m committed) | US | Health Technology | |||
0 (Up to US$1 billion committed) | HK | FinTech |
A BNB treasury strategy involves allocating part of a company’s balance sheet to Binance Coin, the native token of the Binance Smart Chain (now called BNB Smart Chain).
Some companies are doing this to take advantage of BNB’s speed and low-cost transactions for operational use. Others may see BNB as a bet on the broader Binance ecosystem or as a hedge against fiat currency devaluation.
However, BNB’s close connection to Binance amid the ongoing regulatory scrutiny makes this a higher-risk play compared to more neutral assets like Bitcoin.
BNB’s appeal lies in its on-chain utility. It’s used to pay fees, participate in DeFi protocols, and access token launches via Binance Launchpad. For businesses interacting with BNB Smart Chain apps or building on the network, holding BNB can be practical.
In 2025, we’ve also seen a few Nasdaq-listed and OTC companies dip their toes into BNB holdings as part of broader crypto strategies. The coin’s rising profile and its use in fee-saving and staking applications has made it attractive for small to mid-cap firms looking for a growth edge.
Some companies, like Windtree Therapeutics and CEA industries, have staked their future on the growth of BNB by pivoting their businesses to becoming BNB treasuries as a way to provide traditional shareholders exposure to the token.
Windtree is a US biotech firm focused on developing drugs and treatments for cardiovascular disorders. In July 2025, Windtree announced a commitment to build a BNB treasury of up to US$700 million. If carried out, it would be the largest BNB treasury to date.
BNB plans to become one of the world’s first corporate BNB treasuries to diversify its treasury assets and offer shareholders exposure to the binance ecosystem.
CEA industries is a Canadian company originally making nicotine vaping products under the ticker VAPE. More recently it pivoted to building a BNB treasury in partnership with yZi Labs (aka Binance Labs) and investment firm 10X Capital.
BNC is pivoting its business structure towards crypto, aiming to bring institutional and retail shareholders exposure to the BNB chain ecosystem. As of August 2025, it is the world’s largest BNB treasury.
Nano Labs is a Hong Kong–based tech firm that specialises in Web 3.0 infrastructure and chip design. In July 2025, it announced new BNB purchases, bringing its holdings to 128,000 tokens as part of its long-term BNB treasury strategy.
In June 2025, Nano Labs issued US $500 million in convertible notes (interest-free, maturing in 360 days) to fund a BNB treasury.
To position as one of the largest non‑Binance holders of the token, aligning with their Web 3.0 infrastructure strategy.
Liminatus is a preclinical-stage biopharmaceutical company focusing on cancer therapies. In July 2025 it announced plans to expand into the crypto and blockchain sector by investing up to US$500 million in BNB.
To diversify its treasury strategy, leveraging BNB’s staking potential, fee utility, and deflationary mechanisms in a phased, managed way—while still pursuing its core biotech objectives.
Which BNB treasury company you decide to invest in, should depend largely on what their overall long-term goals are.
For example, if you’re just looking for exposure to BNB via shareholdings, you might look for a company that is solely focused on being a treasury. If you’re looking for companies investing more generally in the future of cryptocurrency and DeFi applications, then a company with a more diversified portfolio might be a better play.
When looking at companies with BNB holdings, it’s worth digging into:
"BNB’s utility in the DeFi space is undeniable, but shareholders must weigh that against the risk of these companies being closely tied to Binance, which has faced ongoing legal battles on a global scale. While investing in BNB might show these companies are tech-forward, this is not a choice to be taken lightly."
It’s not just Bitcoin and Ethereum making waves anymore. In 2025, crypto adoption is broadening, and companies are looking beyond the big two. Spot ETFs are now live in several countries including Australia, and new players like Solana and BNB are appearing in treasury discussions.
BNB has benefited from the success of BNB Smart Chain, which remains one of the most active blockchain ecosystems globally. However, investor caution remains high due to Binance’s global regulatory challenges and occasional service suspensions.
For most investors, BNB treasury companies are still considered speculative plays. The companies exploring BNB holdings are often small to mid-cap, and tend to carry operational or regulatory risks that go beyond crypto price swings.
That said, if you’re bullish on the Binance ecosystem or actively use BNB Smart Chain apps, investing in these firms could offer amplified exposure. Just remember, crypto exposure doesn’t override bad company fundamentals.
Most companies holding BNB are traded on US exchanges (NASDAQ, OTCMKTS), the CSE, or other international markets. You can access them through Australian brokers offering international trading such as the following in our table:
We currently don't have that product, but here are others to consider:
How we picked theseWe've scored over 30 share trading platforms assessing them for their core features, fees, customer experience and accessibility. Our experts give each platform a score out of 10.
If you’re after more direct exposure, you can also buy BNB directly on crypto exchanges. Here are some exchanges offering BNB in Australia:
We currently don't have that product, but here are others to consider:
How we picked theseBNB is functional and liquid but carries elevated regulatory risks. In general, BNB is a higher risk asset and should be part of a diversified portfolio.
Mostly for transaction efficiency, staking, or integrating with DeFi protocols on BNB Chain.
Yes, companies can stake BNB to earn passive rewards or provide liquidity to protocols.
Smaller public companies and a few digital asset firms — disclosures are still limited.
Not directly. There are crypto ETFs like CRYP that invest in firms exposed to crypto, but no pure BNB ETF exists yet on the ASX or CBOE Australia.
Kylie Purcell is an experienced investments analyst and finance journalist with over a decade of expertise in a wide range of financial products, including online trading platforms, robo-advisors, stocks, ETFs and cryptocurrencies. She is a sought-after commentator and regularly shares her insights on the AFR, Yahoo Finance, The Motley Fool, SBS and News.com.au. Kylie hosts the Investment Finder video series and actively contributes to the investment community as a judge and panellist. She holds a Master of Arts in International Journalism, a Graduate Diploma in Economics, and ASIC-recognised certifications in securities and managed investments. See full bio
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