Dubai’s DFSA Approves First Regulated Tokenized Money Market Fund in Partnership with QNB and DMZ Finance
Dubai's Financial Services Authority (DFSA) has greenlit the region's first regulated tokenized money market fund, a collaborative effort between Qatar National Bank (QNB) as investment manager and DMZ Finance as tokenization infrastructure provider. The QCD Money Market Fund (QCDT) will invest in low-risk, short-term debt instruments like Treasury bills and commercial paper.
This approval signals a watershed moment for real-world asset (RWA) tokenization in the Middle East, bridging traditional and decentralized finance. Ripple and BCG project the tokenized RWA market could reach $18.9 trillion by 2033. QNB Singapore CEO Silas Lee called the fund a cornerstone of the bank's digital asset strategy.