NASDAQ-registered biotechnology company Windtree Therapeutics has entered into a strategic partnership with Crypto Exchange Kraken to manage its BNB-centric Crypto Treasury program, the company announced Tuesday.
Under this agreement, Kraken will handle custody, transaction and over-the-counter (OTC) execution of Windtree's BNB assets.
With $60 million raised so far and another $140 million likely on the BNB Financial Strategy card, a $200 million transaction could be potential, a representative for Kraken said in an email.
Crypto Treasury Plays is all furious now. Windtree says this is the first financial strategy to focus on BNB, the native asset of Binance Smart Chain. BNB is currently ranked among the top five cryptocurrencies by market capitalization, with daily trading volumes exceeding $2 billion.
Serving both institutional and retail clients, Kraken offers secure wallets, deep liquidity and Windtree access to large-scale execution services. “We are making sure they can navigate the Binance ecosystem with confidence,” said David Olsson, global head of Kraken's institutional client solutions.
BNB is used to interact with Binance Smart Chain applications that pay and host thousands of distributed apps. By using Kraken's infrastructure, Windtree aims to create a pipeline between traditional shareholders and the Defi ecosystem, which is usually out of reach for US investors.
The final agreement will be signed following approval from shareholders and regulatory authorities.
