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BTCRepublic > News > Dubai Approves Tokenized Money Market Fund In RWA Drive
News

Dubai Approves Tokenized Money Market Fund In RWA Drive

The Dubai Financial Services Authority approved the QCD Money Market Fund backed by Qatar National Bank and DMZ Finance.

Oladapo Timothy
Last updated: July 8, 2025 7:30 pm
Oladapo Timothy
Published: July 8, 2025
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Disclosure: BTCRepublic provides analysis and forecasts but does not offer investment advice. Our content is for informational purposes only. Please conduct your own thorough research and consult with a financial advisor before making any investment in cryptocurrency.
Dubai Approves Tokenized Money Market Fund In RWA Drive
Highlights
  • The QCD Money Market Fund has received regulatory approval from the Dubai Financial Services Authority to operate in the Dubai International Financial Centre.
  • The fund is a collaboration between Qatar National Bank and DMZ Finance.

On Monday, 7th July, 2025, the Dubai Financial Services Authority has approved the QCD Money Market Fund (QCDT). 

QCDT is a joint project by Qatar National Bank (QNB) and DMZ Finance, as a tokenized money market fund within the Dubai International Financial Centre.

Dubai Approves Its First Tokenized Money Market Fund

The Dubai Financial Services Authority approved the QCD Money Market Fund backed by Qatar National Bank and DMZ Finance.

In a statement released on Monday, DMZ Finance said it will serve as the co-originator and provide specialized tokenization technology infrastructure, while QNB is set to lead fund origination and investment management.

This landmark approval of QCDT by the DFSA marks a major milestone in the advancement of real-world asset (RWA) tokenization in the Middle Eas

QCDT is designed to support multiple institutional applications across the financial sector. For example, banks can use QCDT as qualifying collateral, while centralized exchanges can deploy it as mapped collateral. 

Additionally, the fund can function as backing reserves for stablecoins and serve as a foundational layer for Web3 payment systems.

“QCDT is not only the first DFSA-approved tokenized money market fund in Dubai but also a pivotal step in QNB’s digital asset journey,” said Silas Lee, CEO of QNB Singapore, in the statement. 

“As the Middle East rapidly emerges as a global hub for financial innovation, the successful deployment of QCDT further consolidates QNB’s leadership in the regional financial ecosystem and reflects our long-term vision to shape the next generation of financial infrastructure.”

Dubai has taken steps to develop its crypto industry. In May, the Department of Finance of Dubai city signed a Memorandum of Understanding with Crypto.com to introduce cryptocurrency as a payment method for government services. 

Last month, the DFSA also approved RLUSD, Ripple’s US dollar-pegged stablecoin, as a payment rail within the Dubai International Financial Centre.

Last year, Dubai regulator, Virtual Assets Regulatory Authority (VARA), issued provisional crypto license to several crypto platforms including Bybit. Same last year, Dubai updated cryptocurrency regulations with new marketing guidelines.

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ByOladapo Timothy
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An expert, trader and writer with extensive experience of digital assets, covering everything related to the burgeoning crypto industry — from price analysis to Blockchain disruption. I have authored more than 2,000 stories for crypto and fintech media outlets. I am particularly interested in regulatory trends around the globe that are shaping the future of digital assets.
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