The cryptocurrency market is witnessing major shifts with Nano Labs' substantial investment in BNB, Japan's efforts to revamp its crypto regulations, a groundbreaking partnership between Chainlink and Mastercard, among other key events. These developments signal growing institutional interest, regulatory clarity, and mainstream adoption of blockchain technology.

Chinese blockchain infrastructure firm Nano Labs has announced a $500 million convertible notes purchase agreement to acquire Binance’s BNB token. The firm disclosed this strategy in a press release on Tuesday, revealing plans to eventually hold between 5% and 10% of BNB’s circulating supply.

The purchase will occur through a combination of convertible promissory notes and private placements. According to Nano Labs, the notes mature 360 days after issuance and do not accrue interest. Investors can convert these notes into Nano Labs' Class A ordinary shares at $20 per share, with the price subject to adjustment. The notes remain unsecured, and the company cautioned that the whole transaction may not close.

This major treasury move positions BNB as a key strategic asset. Nano Labs stated that it will continue evaluating BNB’s security and value throughout the holding period. The strategy highlights institutional interest in BNB with greater adoption in the DeFi and blockchain infrastructure sectors.

Binance co-founder and former CEO Changpeng Zhao responded to the announcement on social media. He emphasized that Nano Labs’ stock price more than doubled following the announcement of the treasury news. Nano Labs shares jumped from $10.90 to $22.50 within a single trading session.

Nano Labs Ltd (Nasdaq: NA) becomes a $BNB-only strategic reserve public co, bringing $500 million to BNB. 👏

Their stock price went through the roof. We (my affiliated entities) did not participate in this round, but remain extremely supportive.

Not financial advice! https://t.co/2ULQ6NGDBG

— CZ 🔶 BNB (@cz_binance) June 24, 2025

Zhao clarified that he and his affiliated entities did not participate in the funding round but expressed continued support for the firm. The statement comes as BNB gains renewed institutional attention. Earlier this month, reports emerged of a hedge fund effort to raise $100 million specifically for BNB investment. In parallel, asset manager VanEck submitted an application to list a spot BNB ETF in the U.S., indicating rising demand in regulated markets.

Meanwhile, in other news abroad, the Financial Services Agency (FSA) of Japan has proposed reclassifying crypto assets under the Financial Instruments and Exchange Act (FIEA). This proposal aims to classify digital assets as financial products, which could enable the launch of spot crypto ETFs and a 20% fixed policy on crypto tax in the country.

Currently, Japanese crypto investors face a tax rate as high as 55%. The FSA has stated that the measure will enhance retail and institutional demand by eliminating the gap between the tax paid on stock market investments. The project aligns with Japan's New Capitalism policy, which aims to foster an investment-driven economy.

Japan’s Financial Services Agency released a proposal on June 24 to bring crypto assets under the Financial Instruments and Exchange Act. The plan, to be reviewed by the Financial System Council on June 25, could pave the way for Bitcoin ETFs in Japan and allow crypto gains to be…

— Wu Blockchain (@WuBlockchain) June 24, 2025

FSA statistics indicate that the number of active crypto accounts in Japan has surpassed 12 million. This number is much higher than the participation in some conventional financial markets, including FX and bonds. The suggested changes are evidence of the country's attempt to attract capital inflows and foster local crypto innovation.

In parallel, Mastercard and Chainlink collaborated with Swapper Finance to provide fiat-to-crypto services to over 3 billion Mastercard cardholders. The partnership allows secure, compliant conversions using Chainlink smart contracts and Zerohash infrastructure. Uniswap and Shift4 promote liquidity and payment processing.

The initiative marks a significant milestone toward the mainstream adoption of cryptocurrency. Chainlink project token (LINK) increased by more than 11% within 24 hours of the announcement, as the market expressed enthusiasm about the real-life implementation of blockchain applications.

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