Dubai Approves First Tokenized Money Market Fund by QNB and DMZ Finance
Main Idea
Dubai has approved its first tokenized money market fund, the QCD Money Market Fund (QCDT), a collaboration between Qatar National Bank (QNB) and DMZ Finance, aimed at bringing traditional financial instruments like U.S. Treasuries on-chain.
Key Points
1. The Dubai Financial Services Authority (DFSA) approved the QCDT, domiciled in the Dubai International Financial Centre (DIFC), with QNB handling asset origination and DMZ Finance providing blockchain infrastructure.
2. The fund is designed to enable use cases such as stablecoin reserves, Web3 payment systems, and exchange collateral by tokenizing traditional instruments like U.S. Treasuries.
3. A joint study by Ripple and BCG projects the RWA tokenization market could reach $18.9 trillion by 2033, with Dubai and Doha as key jurisdictions.
4. QNB, the region’s largest bank, is leveraging its institutional reach, while DMZ Finance is working to embed tokenization into local financial infrastructure.
5. The UAE continues to position itself as a crypto hub, with recent developments including a $2 billion investment into Binance via a stablecoin and regulatory advantages over the EU’s MiCA framework.
Description
Dubai’s financial regulator has approved the region’s first tokenized money market fund as the city seeks to lead in the digital asset finance space. Key Takeaways: Dubai has approved its first tokenized money market fund, led by QNB and DMZ Finance. The fund brings traditional assets like U.S. Treasuries on-chain for use in Web3 and institutional finance. The move highlights the Middle East’s growing leadership in real-world asset tokenization. The Dubai Financial Services Authority (DFSA) gran...
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