The Dubai Financial Services Authority (DFSA) has granted regulatory approval for the establishment of the QCD Money Market Fund, which primarily leverages tokenization of traditional assets for institutional investors.
Approval of QCD Money Market Fund
The DFSA has officially approved the QCD Money Market Fund (QCDT), backed by Qatar National Bank (QNB) and DMZ Finance. This is the first tokenized money market fund established within the Dubai International Financial Centre.
Tokenization Technology by QNB and DMZ Finance
QNB, the largest bank in the Middle East and Africa, leads the fund's investment strategy, while DMZ Finance provides the tokenization technology and stablecoin infrastructure.
Prospects of Tokenization and Economic Contributions in Dubai
The fund aims to integrate traditional financial instruments, such as U.S. Treasuries, onto the blockchain, offering institutional applications including exchange liquidity and Web3 payment support.
With the launch of the QCD Money Market Fund, Dubai solidifies its position as a hub for financial innovation, signaling growing interest in the tokenization of traditional assets in the region.
