According to ChainCatcher and CoinDesk, the Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund (QCDT), supported by Qatar National Bank (QNB) and DMZ Finance, becoming the first tokenized money market fund authorized for issuance in the Dubai International Financial Center (DIFC). The fund's investment strategy and asset initiation are led by Qatar National Bank, with DMZ Finance providing support for its digital infrastructure.
The fund aims to tokenize traditional assets such as US Treasury bonds to serve a wide range of institutional applications, including bank-eligible collateral, stablecoin backing, exchange reserves, and Web3 payment infrastructure. Supporters anticipate that the fund will promote adoption among financial institutions and crypto-native organizations, leveraging its regulatory compliance, stable yields, and on-chain transparency.
