PANews July 8 news, according to CoinDesk, the Dubai Financial Services Authority (DFSA) has approved the QCD money market fund (QCDT) supported by Qatar National Bank (QNB) and DMZ Finance, making it the first tokenized money market fund approved for issuance in the Dubai International Financial Centre (DIFC). The fund's investment strategy and asset initiation are led by Qatar National Bank, while DMZ Finance provides the technology supporting its digital architecture.
The fund aims to put traditional assets such as U.S. Treasury bonds on-chain, serving a wide range of institutional applications, including bank-eligible collateral, stablecoin backing, exchange reserves, and Web3 payment infrastructure. Supporters state that with its regulatory compliance, yield stability, and on-chain transparency, they expect the fund to facilitate the adoption of financial institutions and cryptocurrency-native entities.