The Dubai Financial Services Authority (DFSA) has officially approved the QCD Money Market Fund (QCDT), becoming the first legally operating tokenized money market fund in the Dubai International Financial Centre (DIFC). This move reinforces Dubai's position as a leading center in the global wave of asset tokenization (#RWA ).
Strategic cooperation and goals of QCDT
QCDT is a collaborative product between Qatar National Bank (QNB), the largest bank in the Middle East & Africa, and DMZ Finance, a platform specializing in the tokenization of real assets and stablecoins. QNB is responsible for investment strategy (including U.S. government bonds), while DMZ Finance handles on-chain architecture, ensuring transparency and digital operations.
QCDT aims to bring traditional financial assets onto the blockchain, opening up many potential applications such as collateral for banks, supporting stablecoins, exchange reserves, or Web3 payment infrastructure.
Dubai: A new legal haven for digital assets
Amid Europe tightening regulations on stablecoins, the Middle East, particularly Dubai, is emerging as an attractive destination for financial and crypto institutions due to its transparent licensing policies. #Dubai has attracted major players like Binance, OKX, and Crypto.com.
The global RWA market is projected to reach $18.9 trillion by 2033, with Dubai and Doha leading the way. In real estate alone, Dubai estimates that 7% of transactions will come from tokenized assets ($16 billion over the next 8 years). Traditional financial institutions like Franklin Templeton also believe that tokenized money market funds could become the backbone of new financial infrastructure, connecting traditional finance and Web3.