BiFinance Completes Series B Financing: RWA Moves to the Core Stage of Global Capital Markets

As global capital markets accelerate digitalization, BiFinance announced the completion of its Series B strategic financing, raising USD 10 million at a latest valuation of USD 200 million. The round was led by the Republic of Liberland and Sunfund Fortuna Global Opportunities, with participation from Victus Global and other institutional investors.

This financing not only brings capital support to BiFinance but also reflects the growing recognition of the Real World Assets (RWA) sector by mainstream capital markets. At the same time, the U.S. securities market witnessed a regulatory breakthrough: on September 8, 2025, the U.S. SEC formally accepted Nasdaq’s SR-NASDAQ-2025-072 proposal, which seeks to allow tokenized stocks and exchange-traded products (ETPs) to be traded on the main board market. The release of this regulation, coupled with BiFinance's financing announcement, signifies that RWA has gradually evolved from a marginal innovation to a core part of the global financial system.

Nasdaq Proposal: Institutional Breakthrough

On September 8, 2025, the U.S. SEC accepted Nasdaq’s proposal SR-NASDAQ-2025-072, which outlines the framework for trading tokenized securities on its main board market.

Key points include:

• Tokenized securities enjoy full parity with traditional equities (including CUSIP numbers, dividends, voting rights, and liquidation rights).
• Investors may trade traditional and tokenized equities within the same order book.
• The Depository Trust Company (DTC) will handle tokenized settlement, ensuring consistency between on-chain and off-chain records.
• The earliest possible launch is expected in Q3 2026.

This proposal marks the first time traditional securities market infrastructure has entered an institutionalized tokenization process. It forms a clear resonance with BiFinance's exploration in the RWA field: the former provides top-level regulatory breakthrough, while the latter contributes market-based implementation cases.

Capital Endorsement: The Intersection of Institution and Markets

BiFinance’s financing is not just about capital injection - it carries both state and institutional levels.

• State-level Endorsement:
  The Republic of Liberland, as one of the most institutionally innovative digital societies globally, has incorporated BiFinance into its national capital experiments. This means RWA has evolved from fintech exploration to state-level institutional allocation.
• Capital Market Endorsement:
  Sunfund Fortuna Global Opportunities and Victus Global not only invested in BiFinance but also directly incorporated its ecosystem token BFT into their fund management allocation assets. This move creates an institutional precedent for token capitalization: platform tokens are being viewed as strategic reserve assets by international fund institutions for the first time.

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

BiFinance’s RWA Cases: Gold and Stocks

Out of more than 1,200 global trading platforms, fewer than 5% can deliver compliant tokenization of real-world assets (Messari Research, Q1 2025). BiFinance stands out among them.

• Gold Token TGT
  With annual trading volumes of over USD 11 trillion (World Gold Council, 2024), the traditional gold market has long been constrained by inefficient cross-border settlement.
  BiFinance’s launch of the Gold Token TGT enabled instant settlement and cross-border circulation within seconds, reducing costs by 65%. For the first time, gold achieved “internet-speed liquidity”, offering the global commodities market a new infrastructure layer.
• Stock Token SDMT  
    With global equity markets valued at more than USD 109 trillion (WFE, 2024), liquidity remains concentrated in a few financial centers.
  BiFinance introduced the Stock Token SDMT, which, under a compliant framework, allows global investors to directly buy and transfer tokenized equities on-chain.
  This breakthrough lowers barriers to entry and delivers the first decentralized global accessibility to equity markets.

Together, these cases show that BiFinance is no longer just an exchange—it is a model platform driving the transformation of asset circulation, providing a practical path for standardizing and scaling RWA.

Institutional Testbed and Capital Bridge: Redefining Market Mechanics

BiFinance’s uniqueness lies not only in its technological and product innovation but also in its role as both a policy sandbox and a capital bridge.

• Policy Testbed:
  Through Liberland, BiFinance has become a national-level execution platform for RWA integration into sovereign capital reserves. Its successful cases are already being observed by other emerging regulators and may serve as policy reference points for institutions such as the IMF and OECD in the future development of global RWA standards.
• Capital Bridge:
  With Sunfund’s expertise in fund and asset management, BiFinance gains access to wider primary market resources and stronger international capital connectivity. Victus Global’s global market presence further enhances BiFinance’s reach.

By enabling direct flows from primary markets → secondary markets → on-chain markets, BiFinance breaks down geographical and regulatory barriers. Gold and equities can now be cleared across borders in real time through tokenization and compliance, significantly boosting capital efficiency.

The Path and Potential of RWA

BiFinance's Series B funding is not an isolated event, but an important footnote in the global capital market's exploration of RWA institutionalization and scaling. It shows that capital and institutional levels are gradually forming consensus: the divide between traditional finance and blockchain assets is being gradually bridged through the RWA pathway.

From TGT's cross-border gold settlement to SDMT's stock tokenization, to capital markets' concentrated bets on BiFinance, we can see that real asset digitization has moved from experimentation to application stage. This not only means improved trading efficiency and asset liquidity but also indicates that future financial market participants and rule-makers will become more diverse.

NASDAQ's proposal further confirms this trend: with the SEC's formal acceptance, tokenized securities are expected to launch on the U.S. main board market, indicating that RWA is moving from crypto markets to the center stage of global capital markets.

For global capital, BiFinance provides a clear sample path: how to bring traditional assets into the on-chain world within a compliance framework and achieve more efficient circulation globally. As more institutions and capital join, RWA is poised to become next-generation financial infrastructure, with BiFinance already standing at the forefront of this trend.