Dubai’s First Tokenized Money Market Fund Receives DFSA Approval in QNB-DMZ Finance Partnership

Dubai International Financial Centre (DIFC) has achieved a landmark milestone with the regulatory approval of the QCD Money Market Fund (QCDT), the first tokenized money market fund in the region. The Dubai Financial Services Authority (DFSA) greenlit the fund, a collaboration between QNB, the Middle East's largest financial institution, and Singapore-based DMZ Finance.

The approval signals Dubai's accelerating ambitions to become a global hub for institutional digital finance. QNB serves as lead originator and investment manager, while DMZ provides the tokenization infrastructure. "QCDT marks a pivotal step in QNB's digital asset journey," said Silas Lee, CEO of QNB Singapore, emphasizing its role in laying groundwork for multi-asset tokenization.

This development coincides with surging interest in tokenized real-world assets (RWAs). Industry reports highlight explosive growth potential for RWA markets, positioning Dubai at the forefront of institutional blockchain adoption.