Dubai approves tokenized money market funds backed by Qatar National Bank and DMZ Finance

PANews reported on July 8 that according to CoinDesk, the Dubai Financial Services Authority (DFSA) approved the QCD Money Market Fund (QCDT) supported by Qatar National Bank (QNB) and DMZ Finance, becoming the first tokenized money market fund approved for issuance by Dubai International Financial Centre (DIFC). The fund's investment strategy and asset initiation are led by the National Bank of Qatar, while DMZ Finance provides technologies that support its digital architecture.

The fund aims to bring traditional assets such as U.S. Treasury bonds to a wide range of institutional applications, including bank-eligible collateral, stablecoin support, exchange reserves and Web3 payment infrastructure. Supporters said that with its regulatory compliance, yield stability and on-chain transparency, they expect the fund to promote adoption by financial institutions and cryptocurrency native institutions.

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