CZ Outlines BNB’s Next Growth Phase and Institutional Pathways

Binance founder Changpeng Zhao shared his long-term vision for BNB during a discussion with David Namdar of BNB Network Company.

Zhao highlighted BNB’s transformation from an exchange token to a multi-chain asset, unveiled a plan to attract institutional capital through a US-listed treasury vehicle, and emphasized stablecoins and real-world asset tokenization as key drivers for the ecosystem’s next stage of growth.

BNB Evolves Beyond Its Exchange Roots

Changpeng Zhao, better known as CZ, opened the discussion by clarifying that “Binance Coin” is now a historical term rather than a current definition. BNB originally debuted as an ERC-20 token to raise funds and offered trading discounts on Binance’s centralized exchange. Over time, however, it has shifted into the native asset of an expansive multi-blockchain ecosystem.

BNB now powers the BNB Smart Chain, Greenfield—a decentralized storage chain—and opBNB, with additional technological developments under way. Zhao stressed that BNB functions as more than a company-linked token, noting that while Binance still provides benefits to BNB holders, such as participation in Launchpad and Launchpool airdrops, those perks represent only a small portion of the asset’s overall use.

He highlighted BNB’s expanding role in decentralized applications, from decentralized exchanges and lending protocols to stablecoin initiatives. According to Zhao, the ecosystem’s growth has been driven largely by community-led efforts rather than centralized oversight.

Even during periods when he focused on regulatory issues and centralized exchange operations, the BNB Chain advanced steadily. Zhao views this organic development as proof of the network’s resilience and independence.

The “B Strategy” and Institutional Capital

A central topic of the conversation was the “B Strategy,” a new initiative spearheaded by BNB Network Company CEO David Namdar, with support from Zhao and YZi Labs. The strategy aims to create a US-listed BNB Treasury company capable of raising about $1 billion to hold and manage digital assets over the long term.

Zhao revealed that he has reviewed proposals from around 50 digital asset treasury teams but chooses to back only those with strong fundamentals and a clear long-term vision. He compared the concept to MicroStrategy’s pioneering approach of using a publicly traded entity to provide investors with exposure to digital assets.

According to Zhao, a similar structure for BNB could attract large institutional investors who prefer the regulatory clarity and reporting standards of public markets. This would create a bridge between traditional finance and the crypto sector, allowing institutions to gain BNB exposure without directly holding the token.

Zhao argued that such an arrangement could help funnel capital into the BNB ecosystem while providing traditional investors with a compliant, familiar investment vehicle.

Stablecoins and Real-World Asset Tokenization

Despite BNB’s current market presence, Zhao believes the ecosystem remains underdeveloped in key areas such as stablecoins and institutional adoption. He underscored the vast opportunities in the stablecoin market, which he called one of the most profitable segments in crypto. Stablecoins such as USDT and USDC have only recently launched natively on the BNB Chain, leaving room for innovative projects to compete and expand.

Zhao noted that stablecoins play a crucial role for global users, providing a borderless and stable medium for frequent, low-cost transactions. He sees them as a cornerstone for future growth, especially as more financial activity moves on-chain.

Another major growth driver, according to Zhao, is the tokenization of real-world assets (RWA). He views the process as inevitable, beginning with financial instruments that lend themselves naturally to digital trading. Zhao described this convergence of traditional finance and decentralized finance as a collaborative opportunity rather than a competitive struggle.

He emphasized that the success of BNB should not be measured against rival tokens but by its ability to onboard the next one to two billion people into the broader digital economy. In his view, cooperation between traditional financial institutions and crypto projects will define the ecosystem’s long-term success.