Is BNB a safe treasury asset?

BNB 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.

How is BNB used by companies?

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.

Who holds BNB in their treasury?

Smaller public companies and a few digital asset firms — disclosures are still limited.

Can I buy BNB ETF in Australia?

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.

Binance Coin (BNB) Treasury Companies

Binance Coin (BNB) has emerged as a strategic treasury asset for some public companies since 2025.
BNB offers fast transactions and low fees via BNB Smart Chain (BSC), which is a key reason it’s being added to corporate portfolios.
While adoption is still niche compared to Bitcoin or Ethereum, BNB’s utility and ties to the Binance ecosystem are attracting attention.

Company name	BNB held	Date of last disclosure	Country of HQ	Sector/Industry
Windtree Therapeutics, Inc. (OTC: WINT)	0 (plan dropped Aug 25)	24 Jul 25	US	Health Technology
BNB Standard Corp (NASDAQ: BNC, formerly CEA Industries)	515,544	31 Jul 26	US	Producer Manufacturing
Nano Labs (NASDAQ: NA)	128,000	28 Jul 25	CN	Electronic Technology
Liminatus Pharma (NASDAQ: LIMN)	0 (none reported in SEC filings)	28 Jul 25	US	Health Technology
B Strategy (Private firm)	0 (Up to US$1 billion committed)	25 Aug 25	HK	FinTech

What is a BNB treasury strategy?

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.

Why are companies adding BNB to their balance sheets?

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 BNB Standard Corp (formerly 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. Others, like Windtree Therapeutics, announced BNB treasury plans and later dropped them.

Top public Binance Coin (BNB) treasury companies

1. Windtree Therapeutics (OTC: WINT)

Windtree is a US biotech firm, headquartered in Pennsylvania, that was developing drugs and treatments for cardiovascular disorders. In July 2025, Windtree announced plans to build a BNB treasury, but its management decided not to go ahead with the strategy in August 2025, according to its quarterly report to the SEC. Nasdaq delisted Windtree’s shares in August 2025 and they now trade over the counter (OTC), and in December 2025 it agreed to sell its cardiovascular drug candidates.

Why BNB?

Windtree had planned to become one of the world’s first corporate BNB treasuries to diversify its treasury assets and offer shareholders exposure to the Binance ecosystem, but it dropped the plan in August 2025.

2. BNB Standard Corp (NASDAQ: BNC, formerly CEA Industries)

BNB Standard Corp, known as CEA Industries until September 2026, is a US company headquartered in Louisville, Colorado. It originally sold climate control systems for indoor agriculture, bought Canadian vape retailer Fat Panda in June 2025 and traded under the ticker VAPE until August 2025. It then pivoted to building a BNB treasury in partnership with YZi Labs (aka Binance Labs) and investment firm 10X Capital.

Why BNB?

BNC is pivoting its business structure towards crypto, aiming to bring institutional and retail shareholders exposure to the BNB chain ecosystem. It held 515,544 BNB at 31 July 2026 and describes itself as the world’s largest corporate BNB treasury in its latest quarterly report to the SEC.

3. Nano Labs (NASDAQ: NA)

Nano Labs is a China-based tech firm, headquartered in Hangzhou, 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.

Why BNB?

To position as one of the largest non‑Binance holders of the token, aligning with their Web 3.0 infrastructure strategy.

4. Liminatus Pharma (NASDAQ: LIMN)

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. However, its later quarterly and annual reports to the SEC, up to the quarter ending 30 June 2026, don’t report any BNB or other digital asset holdings. Its shares moved to the Nasdaq Capital Market in August 2026 and, after a 1-for-50 reverse stock split, it regained compliance with Nasdaq’s minimum bid price rule in September 2026.

Why 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.

How to compare BNB treasury companies

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:

Utility vs store of value: BNB is designed for on-chain utility, unlike Bitcoin which is often seen as “digital gold.” Check whether the company is using BNB for operations or speculative holding.
Regulatory exposure: Binance has faced ongoing legal battles globally, including in Australia, the US and UK. Companies tied too closely to Binance infrastructure could be at risk of reputational or operational damage.
Transparency: Unlike major Bitcoin treasury holders like MicroStrategy, many smaller BNB-holding firms (especially OTC-listed stocks) don’t disclose holdings regularly. Stick with companies that publish regular updates.

Our expert says

"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."

Kylie Purcell

Investments Analyst

What the crypto market looks like in 2025

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.

Pros and cons of investing in BNB treasury companies

Pros

DeFi utility: BNB is widely used across decentralised applications, meaning companies can earn staking yields or participate in protocol governance.
Lower fees: Compared to Ethereum, BNB Smart Chain is cheaper to use which is a bonus for firms actively using crypto networks.
Fast transactions: Faster block times make BNB attractive for certain business applications.

Cons

High regulatory risk: Binance’s ongoing legal issues could impact BNB’s adoption or valuation.
Lower institutional support: Compared to BTC and ETH, BNB sees far less uptake among large institutions.
Centralisation concerns: Critics argue BNB’s ties to Binance compromise its decentralisation, which may concern risk-averse investors.

Should retail investors follow BNB treasury strategies?

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.

How to invest in BNB treasury companies

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:

6 of 28 results

Finder Score	AU Trading Fee	US Trading Fee	Asset Class
9.6 Excellent Moomoo Share Trading Finder Award	9.6 Excellent	$3.00	US$0.99	ASX shares, Global shares, Options trading, US shares, ETFs	Welcome offer: Enjoy 30 days of $0 brokerage on AU and US stocks and receive up to 38 free shares when you open and fund your account and complete qualifying tasks. Offer ends 30 Nov 2026. T&Cs apply.	Trade major markets with built-in social trading tools.	Go to site View details Compare product selectionCompare	loading
8.7 Great eToro Most Loved	8.7 Great	US$2.00	US$2.00	ASX shares, Global shares, US shares, ETFs, Cryptocurrencies	$150 Reward Finder Rewards: Join Finder then sign up as a new eToro customer through Finder, deposit at least $300 and complete a trade within 60 days of account opening to receive a $150 digital Visa gift card. Ends 31 Dec 2026. T&Cs apply.	CFD service. Capital at risk. Trade a range of assets from a single account with access to social trading features.	Go to site View details Compare product selectionCompare	loading
9.3 Excellent Tiger Brokers Finder Award	9.3 Excellent	$3.00	US$2.00	ASX shares, Global shares, Options trading, US shares, ETFs	$120 Reward Finder Rewards: Join Finder then sign up to Tiger Brokers through Finder, deposit $2,000 within 7 days and complete a qualifying BUY trade within 20 days to receive a $120 digital Visa gift card. Ends 31 Dec 2026. T&Cs apply. Deposit any amount and receive $20 to trade in Tiger Brokers. Plus 4x zero brokerage trades and no FX fees on the first $2,000 you exchange every month. T&Cs apply.	Trade US, Asian and CHESS-sponsored ASX stocks, China A-class shares, plus US and Hong Kong options and ETFs.	Go to site View details Compare product selectionCompare	loading
9.8 Excellent Webull Finder Award	9.8 Excellent	$1.00	$0.00	ASX shares, Global shares, Options trading, US shares, ETFs, Cryptocurrencies	$150 Reward Finder Rewards: Join Finder then sign up to Webull as a new customer, deposit at least $2,000 in a single transaction and place at least 1 BUY order for a US-listed stock or ETF to receive a $150 digital Visa gift card. Ends 2 Dec 2026. T&Cs apply. Bonus offer: Get up to 25,000 bonus Qantas Points on eligible Webull deposits and share transfers by 31 Jan 2027. Plus, earn monthly points on your international trades. T&Cs apply.	Invest in over 15,000 shares, options, and $0 Brokerage on all U.S. and Australian Chess-Sponsored ETFs.	Go to site View details Compare product selectionCompare	loading
9.3 Excellent IG Share Trading Finder Award	9.3 Excellent	$0.00	US$0.00	ASX shares, Global shares, US shares, UK shares, ETFs	Go to site View details Compare product selectionCompare	loading
9.9 Excellent CMC Invest Finder Award	9.9 Excellent	$0.00	$0.00	ASX shares, Global shares, Options trading, US shares, mFunds, ETFs, Cryptocurrencies	Trade 40,000+ listed securities across the local markets and 15 major global exchanges.	Go to site View details Compare product selectionCompare	loading

Showing 6 of 7 results

Finder Score for share trading platforms

We'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.

Read the full methodology

If you’re after more direct exposure, you can also buy BNB directly on crypto exchanges. Here are some exchanges offering BNB in Australia:

15 of 15 results

Deposit methods	Fiat currencies	Trading fees	Cryptocurrencies	Trading features	Disclaimer
Pepperstone Crypto	Bank transfer, Cryptocurrency, Osko	1	Maker: 0.10% Taker: 0.10%	151	Trading API, Charting tools	$150 Reward Finder Rewards: Join Finder then sign up as a new Pepperstone Crypto customer through Finder and make a first trade of at least $500 to receive a $150 digital Visa gift card. Ends 30 Nov 2026. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
eToro Crypto	Bank transfer, Credit card, Cryptocurrency, Debit card	27	Maker: 1.00% Taker: 1.00%	180	Trading API, Charting tools, Recurring buy	$150 Reward Finder Rewards: Join Finder then sign up as a new eToro customer through Finder, deposit at least $300 and complete a trade within 60 days of account opening to receive a $150 digital Visa gift card. Ends 31 Dec 2026. T&Cs apply. Bonus offer: Get 5% in stocks on monthly transfers up to $1,000. Offer ends 31 Dec 2026. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
CoinSpot	Bank transfer, Credit card, Cryptocurrency, Debit card	1	Maker: 0.10% Taker: 0.10%	475	NFT marketplace, Trading API, Charting tools, Recurring buy	Get $20 in BTC when you make a deposit. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Swyftx Finder AwardMost LovedExclusive	Bank transfer, Credit card, Cryptocurrency, Debit card	3	Maker: 0.60% Taker: 0.60%	430	Trading API, Charting tools, Recurring buy, Derivatives (Wholesale account)	Finder exclusive: Get $20 in BTC when you verify your account. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
OKX	Bank transfer, Credit card, Cryptocurrency, Debit card	1	Maker: 0.70% Taker: 0.70%	342	NFT marketplace, Trading API, Charting tools, Recurring buy, Derivatives	Welcome offer: Get up to AUD$150 when you deposit and trade. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Kraken Finder Award	Bank transfer, Credit card, Cryptocurrency, Debit card	10	Maker: 1% Taker: 1%	619	Trading API, Charting tools, Recurring buy, Derivatives (Wholesale account)	Bonus offer: Earn rewards on your USDC with Kraken. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
KuCoin	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	106	Maker: 0.10% Taker: 0.10%	858	NFT marketplace, Trading API, Charting tools, Recurring buy, Derivatives	Go to site View details Compare product selectionCompare	loading
Binance Australia	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	98	Maker: 0.10% Taker: 0.10%	447	NFT marketplace, Trading API, Charting tools, Recurring buy	Bonus offer: Sign up and get up to USD$600 welcome bonus when you fulfill new user tasks on Binance. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Digital Surge	Bank transfer, Cryptocurrency	1	Maker: 0.50% Taker: 0.50%	440	Trading API, Charting tools, Recurring buy	Go to site View details Compare product selectionCompare	loading
Coinstash	Bank transfer, Cryptocurrency	1	Maker: 0.60% Taker: 0.60%	1121	Trading API, Charting tools, Recurring buy	Go to site View details Compare product selectionCompare	loading
Coinbase Australia	Bank transfer, Cryptocurrency, Debit card, PayPal	7	Maker: 0.40% Taker: 0.60%	388	NFT marketplace, Trading API, Charting tools, Recurring buy	Go to site View details Compare product selectionCompare	loading
Crypto.com App	Bank transfer, Credit card, Cryptocurrency, Debit card, PayID	11	Maker: 0.25% Taker: 0.50%	445	NFT marketplace, Trading API, Charting tools, Recurring buy	Go to site View details Compare product selectionCompare	loading
Cointree	Bank transfer, Cryptocurrency	1	Maker: 0.75% Taker: 0.75%	110	Trading API, Charting tools, Recurring buy	Get $20 BTC when you make your first trade. T&Cs apply.	Go to site View details Compare product selectionCompare	loading
Gate.io	Bank transfer, Credit card, Cryptocurrency, Debit card	64	Maker: 0.10% Taker: 0.10%	2640	NFT marketplace, Trading API, Charting tools, Recurring buy	Go to site View details Compare product selectionCompare	loading
Block Earner	Bank transfer, Cryptocurrency	1	Maker: 0.60% Taker: 0.60%	312	Trading API	View details Compare product selectionCompare	loading

Showing 15 of 15 results

Frequently Asked Questions

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options, digital asset or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs, cryptocurrency and options trading involve substantial risk of loss and therefore are not appropriate for all investors. Past performance is not an indication of future results. Consider your own circumstances and obtain your own advice before making any trades.

Thank you for your feedback!

Written by

Kylie Purcell

Investments Analyst

Add to Preferred Sources

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

Kylie's expertise

Kylie has written 166 Finder guides across topics including:

Investment strategies
Financial platforms
Stockbrokers
Robo advisors
Exchange traded funds (ETFs)
Ethical investing
ASX stocks
Stock and forex markets

More resources on Finder

Ask a question

Click here to cancel reply.

Display name

Your email (will not be published)

Your question

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

More guides on Finder

Altcoin treasury companies – DOGE, HYPE, FET, LTC treasuries
Discover which companies are stocking up on altcoins and why it might matter to you.
Solana Treasury Companies
Wondering why companies are stockpiling Solana? This guide breaks down who’s doing it, why it matters, and what you need to watch out for.
XRP Treasury Companies
These are the companies quietly adding XRP to their balance sheets.
Ethereum Treasury Companies
Wondering why companies are stockpiling Ethereum? This guide breaks down who’s doing it, why it matters, and what you need to watch out for.
Bitcoin Treasury Companies
Wondering why companies are stockpiling Bitcoin? This guide breaks down who’s doing it, why it matters, and what you need to watch out for.

Binance Coin (BNB) Treasury Companies

Use our table to track public companies holding Binance Coin (BNB) in their corporate treasuries as of 2025.