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Dubai approved QCDT, its first tokenized money market fund
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The fund is backed by Qatar National Bank and DMZ Finance
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QCDT can serve as collateral, stablecoin reserves, or Web3 infrastructure
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The approval highlights Dubai’s ambition as a global digital asset hub
Qatar and Dubai Join Forces on Tokenized Finance
The Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund (QCDT), marking the first tokenized money market fund authorized to operate in the Dubai International Financial Centre.
The fund is a joint project between Qatar National Bank (QNB) and DMZ Finance. QNB will manage fund origination and investment, while DMZ provides tokenization infrastructure.
Wide Use Cases Across Financial Ecosystem
QCDT will support a wide range of institutional applications. It can be used as qualifying collateral for banks, mapped collateral for centralized exchanges, and even as reserves for stablecoins or foundational Web3 payment layers.
“QCDT is a pivotal step in our digital asset strategy,” said Silas Lee, CEO of QNB Singapore. He added that it represents the next phase in QNB’s regional leadership in financial innovation.
Dubai Accelerates Crypto Integration
This milestone builds on other major crypto developments in Dubai. Last month, the DFSA approved Ripple’s RLUSD stablecoin, and in May, Dubai’s Department of Finance signed a partnership with Crypto.com to pilot crypto payments for government services.
Dubai is positioning itself as a forward-thinking hub for blockchain-based financial infrastructure, with QCDT acting as a foundational component.
