Dubai Sets RWA Milestone With First Approval of Tokenized Money Market Fund

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.