Dubai Greenlights QCDT Fund in Digital Finance Push
The Dubai Financial Services Authority (DFSA) has officially approved the QCD Money Market Fund (QCDT)—marking a significant milestone in Dubai’s expanding embrace of real-world asset (RWA) tokenization. The fund will operate within the Dubai International Financial Centre (DIFC) and represents a strategic collaboration between Qatar National Bank (QNB) and DMZ Finance.
Backed by Leading Institutions
According to Monday’s announcement, DMZ Finance will co-originate the fund while supplying the tokenization infrastructure. QNB, one of the largest banks in the Middle East, will manage the fund’s origination and oversee investment operations. This partnership is seen as a crucial step in digitizing traditional financial products and integrating blockchain-powered finance into institutional use cases.
Multi-Use Tokenized Asset for Institutions
The QCDT fund is not a standard money market product—it’s built for institutional flexibility. Its use cases span several verticals:
- Banks can adopt QCDT as qualifying collateral.
- Centralized exchanges (CEXs) may use it as mapped collateral.
- The fund can support stablecoin reserves.
- It also offers foundational infrastructure for Web3 payment systems.
This versatility positions QCDT as a critical building block in the evolution of tokenized finance and blockchain-based financial infrastructure.
QNB’s Vision for Digital Assets
“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. He emphasized that the successful deployment of QCDT enhances QNB’s leadership in the Middle East’s financial innovation ecosystem and aligns with the bank’s long-term vision of shaping next-gen financial infrastructure.
Dubai Accelerates Crypto Adoption
Dubai has made bold moves to position itself as a global crypto hub. In May, the city’s Department of Finance signed an MoU with Crypto.com, aiming to enable cryptocurrency payments for government services. And just last month, the DFSA approved Ripple’s RLUSD, a U.S. dollar-pegged stablecoin, for use as a payment rail within the DIFC.
A New Era for Tokenized Finance
With QCDT’s approval, Dubai strengthens its commitment to regulated digital assets and opens the door for more institutional-grade tokenized funds in the region. As tokenization becomes a key trend in financial markets, Dubai continues to set the pace for Web3 innovation, crypto infrastructure, and RWA integration.
