Dubai approves tokenized money market fund 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 in the Dubai International Financial Center (DIFC). The fund's investment strategy and asset initiation are led by Qatar National Bank, while DMZ Finance provides technology to support its digital architecture.

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