Binance Founder Urges Banks to Embrace BNB as Token Surpasses UBS in Value

Binance founder Changpeng ‘CZ’ Zhao has renewed his push for banks to adopt cryptocurrency. This came after Binance Coin’s (BNB) market value overtook that of Union Bank of Switzerland (UBS). UBS is one of the world’s largest private banks with a market capitalization of $129.08 billion. 

BNB Surpasses a Global Banking Giant

BNB now has a market value of $130.64 billion, which means it has officially become bigger than the banking giant, according to TradingView data. Zhao, who once sought a presidential pardon from Donald Trump, used this milestone to highlight the growing importance of digital assets in global finance. 

He urged traditional banks to start integrating BNB into their systems. In his statement, Zhao said what once was seen as a risky bet is now competing with institutions that have shaped world finance for centuries. 

The company leader said he is ready to help banks use BNB in their services. He stressed that the coin is not just for speculation but can be used for trading, payments, and many blockchain apps.

Furthermore, he explained that BNB’s use goes beyond Binance, working in real-world finance too. Today, BNB is used to cut trading fees and run apps on the Binance Smart Chain. Its role is growing, with new partnerships like Binance’s deal with Franklin Templeton.

Binance Coin Gains Strength as Analysts See Path to $1,300

BNB’s strong run in the market has made Zhao’s call even more powerful. The token has been moving up steadily over time, with gains across the week, month, and year showing strong momentum. At the time of writing, BNB traded at $941.87 after a 1.85% daily jump, according to CoinMarketCap data.

Market analyst Ali explained that the RAKBANK-listed digital coin has ended its correction phase and is now building a strong upward path. He believes the token could reach $1,300, with buyers driving the trend.

Adding to the buzz, a viral social media story claimed that someone who invested just $300 in BNB back in 2017 now has more than $25 million. 

The claim soon faced doubts. Zhao asked for the wallet address, but no proof was given. Users on BscScan noted there is no wallet with 28,500 BNB, unless the funds are stored on Binance. Many concluded the story was exaggerated or false.

Institutional Interest is Boosting BNB Price 

Beyond price movements, trust from big institutions is also boosting BNB price movements. Its partnership with Franklin Templeton shows that traditional finance is starting to see real value in crypto. In July, CEA Industries, 10X Capital, and YZi Labs launched a $500 million private placement. 

The move aims to create the largest publicly listed company focused on BNB Chain assets. These developments show that BNB is no longer just a token for Binance; it is now viewed as an asset with wider use in global finance.