The Dubai Financial Services Authority (DFSA) has officially approved the launch of a tokenized money market fund called QCD Money Market Fund (QCDT). The project is being implemented by Qatar National Bank in collaboration with DMZ Finance, focusing on institutional clients and the development of Web3 infrastructure.
This is reported by Business • Media
Fund Objectives and Functions
QCDT is designed to tokenize traditional financial instruments, primarily U.S. government bonds. As a result, the fund can be utilized in various institutional scenarios: as collateral for banking transactions, supporting stablecoins, reserves for trading operations, and integration into payment Web3 solutions.
Qatar National Bank provides the fund’s investment strategy, while DMZ Finance is responsible for the technical implementation of the digital platform. As highlighted by DMZ Finance co-founder Nathan Ma, the company aims to bridge traditional financial markets with digital assets, creating new opportunities for market participants.
“The regulator’s approval not only underscores Dubai’s role as a hub for digital finance but also demonstrates the region’s readiness to implement tokenized real-world assets (RWA).”
Trends in the Tokenized Fund Market
Activity in the tokenization of money markets is becoming increasingly noticeable. In particular, the investment division of cryptocurrency exchange Coinbase — Coinbase Asset Management — is also preparing to launch its own tokenized money market fund. This move follows the example of the BUIDL fund launched by BlackRock and reflects the growing interest in innovative blockchain-based financial products.