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HONG KONG - Nano Labs Ltd (NASDAQ:NA), a Web 3.0 infrastructure provider based in China with a market capitalization of $136 million, announced Tuesday a strategic partnership with Orbiter Finance to develop a compliant stablecoin distribution and exchange service across multiple blockchain networks. According to InvestingPro data, the company maintains impressive gross profit margins of 55.5%, though its overall financial health score indicates challenges ahead.
The planned service will support various compliant stablecoins pegged to USD, HKD, and offshore RMB. According to the announcement, the initial product is expected to launch in Q4 2025 under the tentative domain name NBNB.io.
The collaboration aims to combine Orbiter Finance’s multi-chain capabilities with Nano Labs’ Web3.0 expertise to provide users with low-cost, compliant cross-chain transfers and token exchanges.
Orbiter Finance is described as a Layer 2 cross-chain bridge protocol that has processed over $23 billion in transaction volume to date.
Nano Labs, which specializes in high throughput computing and high performance computing chips, has reportedly accumulated nearly $160 million in digital currencies including BNB and BTC as part of its reserve assets.
The partnership aims to build a secure cross-chain infrastructure for stablecoins that could promote adoption across both decentralized finance and traditional finance sectors, according to the company’s press release statement.
The companies plan to expand support for additional blockchains and drive adoption in institutional-grade applications in the future.
In other recent news, Nano Labs Ltd has made significant strides in its strategic initiatives. The company announced a $500 million convertible notes private placement to several investors, with the notes maturing in 360 days and convertible into Class A ordinary shares at an initial conversion price of $20 per share. This move is part of Nano Labs’ broader plan to acquire up to $1 billion worth of Binance Coin (BNB) through convertible notes and private placements, aiming to eventually hold between 5% and 10% of BNB’s total circulating supply. Additionally, Nano Labs has acquired $50 million in BNB tokens, bringing its total reserves of mainstream digital currencies to approximately $160 million.
In a related development, Nano Labs entered into a securities purchase agreement to raise approximately $50 million through a registered direct offering and concurrent private placement. The company will sell 5,952,381 Class A ordinary shares at an effective price of $8.40 per share, with warrants exercisable at $10.00 per share. Proceeds from this offering are intended to support the company’s digital asset strategy, specifically the acquisition of BNB. Maxim Group LLC is serving as the sole placement agent for this transaction. These developments highlight Nano Labs’ strategic focus on expanding its cryptocurrency holdings as part of its digital asset strategy.
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