Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund
2025-07-08 02:19:10
Main Idea
The Dubai Financial Services Authority approved the first tokenized money-market fund, QCD Money Market Fund, backed by Qatar National Bank and DMZ Finance, marking a milestone in Dubai's tokenization market.
Key Points
1. The QCD Money Market Fund (QCDT) is the first tokenized money-market fund approved by the Dubai Financial Services Authority (DFSA) in the Dubai International Financial Centre (DIFC).
2. The fund is backed by Qatar National Bank (QNB) and utilizes technology provided by DMZ Finance.
3. The approval highlights Dubai's role as a global hub for financial innovation and tokenization of real-world assets (RWAs).
4. A joint report by Ripple and BCG projects the global market for tokenized RWAs to reach $18.9 trillion by 2033.
5. The fund aims to bring traditional assets like U.S. Treasuries into the crypto space, supporting stablecoin backing, exchange reserves, and Web3 payment infrastructure.
Description
The Dubai Financial Services Authority (DFSA) granted regulatory approval to QCD Money Market Fund (QCDT), making it the first tokenized money-market fund with an official set-up in the Dubai International Financial Centre (DIFC), according to Qatar National Bank (QNBK), while DMZ Finance, the companies behind the fund. The fund's investment strategy and asset origination is led by Qatar National Bank while DMZ Finance provides the technology underpinning its digital architecture, the companies ...
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