Dubai Approves Tokenized Money-Market Fund Backed by Qatar National Bank
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- Dubai approves first tokenized money-market fund by QNB and DMZ Finance in DIFC.
- QCDT brings U.S. Treasuries on-chain, enabling stablecoin and Web3 financial use cases.
- UAE’s crypto-friendly stance draws firms amid EU MiCA rules and regional tokenization growth.
Dubai’s financial regulator has granted approval to the QCD Money Market Fund (QCDT), the first tokenized money-market fund to be based within the Dubai International Financial Centre (DIFC).
The fund, announced on July 4, is a joint venture between Qatar National Bank (QNB) and the blockchain infrastructure firm DMZ Finance.
Bringing U.S. Treasuries On-Chain
The newly approved QCDT fund is designed to bring conventional, low-risk assets like U.S. Treasuries onto the blockchain. Under the partnership, QNB, one of the region’s largest banks, will manage the investment strategy, while DMZ Finance provides the underlying tokenization technology.
The fund targets several institutional applications such as bank-eligible collateral, stablecoin reserves, Web3 payment infrastructure, and liquidity pools for exchanges.
The post Dubai Approves Tokenized Money-Market Fund Backed by Qatar National Bank appeared first on Coin Edition.
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