Original source: BiFinance

Against the backdrop of the accelerated digital transformation of global capital markets, BiFinance announced the completion of its Series B strategic financing, raising 10 million USD, with a latest valuation reaching 200 million USD. This round of financing was led by the Republic of Liberland and Sunfund Fortuna Global Opportunities, with follow-on investments from institutions such as Victus Global.

This financing not only brings capital support to BiFinance but also indicates that the RWA (Real World Assets) sector is gaining widespread attention and recognition from mainstream capital markets. Meanwhile, the U.S. securities market has also seen a systemic breakthrough: on September 8, 2025, the U.S. SEC officially accepted the proposal SR-NASDAQ-2025-072 submitted by Nasdaq, which aims to allow stocks and exchange-traded products (ETPs) to be traded in "tokenized form" on the main market. This institutional move resonates with BiFinance's financing news, together highlighting that RWA has gradually moved from the fringes of innovation to the core stage of the global financial system.

Nasdaq Proposal: Institutional Resonance

On September 8, 2025, the U.S. Securities and Exchange Commission (SEC) officially accepted the proposal SR-NASDAQ-2025-072 submitted by Nasdaq, which aims to allow stocks and exchange-traded products (ETPs) to be traded in "tokenized form" on the main market.

The core of the proposal includes:

Tokenized securities maintaining full parity with traditional stocks (CUSIP coding, dividends, voting rights, and clearing rights are consistent);

Investors can trade traditional stocks and tokenized stocks simultaneously within the same order book;

DTC (Depository Trust Company) will be responsible for tokenized settlement, ensuring consistency between on-chain and off-chain reconciliations;

Expected to launch as early as Q3 2026.

This proposal marks the first time that the infrastructure of the traditional securities market has entered the institutional tokenization process. It forms a sharp contrast with BiFinance's exploration in the RWA field: the former provides top-level regulatory breakthroughs, while the latter contributes market-based implementation cases.

Capital Endorsement: The Intersection of Institutions and Markets

Behind BiFinance's financing, there is not only capital investment but also a dual endorsement from the state and institutions.

National-Level Participation Endorsement

The Republic of Liberland, as one of the most institutionally innovative digital societies globally, has included BiFinance in its national capital experiment. This means that RWA has moved from fintech exploration to national-level institutional configuration.

Capital Market Endorsement

• Sunfund Fortuna Global Opportunities and Victus Global not only invested in BiFinance but also directly included its ecosystem token BFT as part of their fund management asset allocation. This action creates a precedent for token capitalization: platform tokens are recognized for the first time by international fund institutions as strategic reserve assets.

• Victus Global focuses on emerging industries and cross-border market layouts, providing BiFinance with multi-regional strategic support and capital channels.

Notably, the main investors in this round have included BiFinance's ecosystem token BFT in their fund management asset allocation. This move is not only seen as a cutting-edge experiment in token capitalization but also marks the first time that platform tokens have been recognized as strategic reserve assets by international fund institutions.

BiFinance's RWA Case: Gold and Stocks

Among over 1,200 trading platforms globally, less than 5% can achieve compliant on-chain representation of real assets (Messari Research, Q1 2025). BiFinance stands out as a leader in this regard.

Gold Token TGT

The traditional gold market has an annual trading volume exceeding 11 trillion USD (World Gold Council, 2024) but has long been constrained by inefficient cross-border settlement.

The TGT gold token, launched by BiFinance, achieves settlement and cross-border circulation within seconds, reducing costs by 65%. This is the first time that gold has achieved "internet-speed liquidity," providing a new infrastructure for the global commodity market.

Stock Token SDMT

The global stock market has a market capitalization exceeding 109 trillion USD (WFE, 2024), but liquidity remains concentrated in a few capital centers.

The SDMT stock token, launched by BiFinance, tokenizes stocks within a compliant framework, allowing global investors to purchase and transfer them directly on-chain.

This breakthrough not only lowers investment barriers but also enables the securities market to achieve decentralized global accessibility for the first time.

The above cases indicate that BiFinance is no longer merely a trading platform but a model platform driving the innovation of asset circulation methods, providing a practical path for the standardization and scaling of RWA.

Institutional Testing Ground and Capital Bridge: Reshaping the Logic of Financial Market Operations

BiFinance's uniqueness lies not only in its technological and product innovations but also in its role in institutional innovation and the reconstruction of capital markets.

First, it is becoming a testing ground for institutional innovation on a global scale. The Republic of Liberland has taken the lead in incorporating RWA into national capital allocation through BiFinance, making it an execution platform for digital assets in "national-level capital pilots." Meanwhile, BiFinance's successful practical cases are also viewed as policy reference samples by other emerging financial regulatory agencies. In the future, it is possible that its operational experience will influence the institutional design of RWA standards by international financial organizations such as the IMF and OECD.

Second, BiFinance is reconstructing the cross-border circulation mechanism of capital markets through the support of investment institutions.

• Sunfund Fortuna Global Opportunities has accumulated deep resources and rich experience in fund management and asset management, opening up broader primary market resources for BiFinance and enhancing its international capital linkage capabilities;

• Victus Global, as an international investment group, focuses on emerging industries and global market layouts, providing BiFinance with multi-regional strategic support and capital channels.

In the past, assets often needed to go through complex approval processes to circulate in cross-border markets, while BiFinance leverages tokenization and compliance mechanisms to allow traditional stock exchanges' stocks to directly enter the securities tokenization market through BiFinance's RWA platform; commodities like gold can also achieve real-time cross-border settlement on-chain.

This direct connection from primary market → secondary market → on-chain market not only breaks down geographical and institutional barriers of traditional markets but also achieves a qualitative leap in capital efficiency. Therefore, BiFinance is not just a trading platform but also a window for institutional innovation and a builder of capital bridges.

The Real Path and Future Potential of RWA

BiFinance's Series B financing is not an isolated event but an important note in the global capital market's exploration of the institutionalization and scaling of RWA. It shows that consensus is gradually forming at the capital and institutional levels: the gap between traditional finance and blockchain assets is being gradually bridged through the path of RWA.

From TGT's cross-border gold settlement to SDMT's stock tokenization, and to the concentrated bets of the capital market on BiFinance, it can be seen that the digitalization of real assets has moved from experimentation to the application stage. This not only signifies an improvement in trading efficiency and asset liquidity but also suggests that future participants and rule-makers in the financial market will be more diverse.

The Nasdaq proposal further confirms this trend: with the SEC's official acceptance, tokenized securities are expected to land in the U.S. main market, indicating that RWA is moving from the crypto market to the core stage of the global capital market.

For global capital, BiFinance provides a clear sample path: how to bring traditional assets into the on-chain world within a compliant framework and achieve more efficient circulation on a global scale. With the addition of more institutions and capital, RWA is expected to become a new generation of financial infrastructure, and BiFinance is already at the forefront of this trend.

This article is from a submission and does not represent the views of BlockBeats.

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