CMC News

Dubai Approves First #Tokenized Money Market Fund for #RWA Integration

Dubai Financial Services Authority has given regulatory approval to the QCD Money Market Fund (QCDT), marking the first tokenized money market fund in the emirate.

The fund represents a collaboration between Qatar National Bank and DMZ Finance within the Dubai International Financial Centre.

DMZ Finance will provide tokenization technology infrastructure while QNB will lead fund origination and investment management operations.

QCDT is designed for multiple institutional use cases across the financial sector.

Banks can utilize QCDT as qualifying collateral for their operations.

Centralized exchanges can deploy the fund as mapped collateral for #trading activities.

The fund can serve as backing reserves for stablecoins and function as a foundational layer for #Web3 payment systems.

QNB Singapore CEO Silas Lee emphasized this represents a pivotal step in the bank's digital asset journey.

Dubai continues to position itself as a regional hub for financial innovation through progressive crypto regulations.