Dubai's DFSA approves launch of its first regulated tokenized money fund

Dubai Financial Services Authority, the DIFC regulatory authority in Dubai UAE, has approved the first tokenized money market fund, called the QCD Money Market Fund (QCDT).

Qatar National Bank will be the investment manager while DMZ Finance will act as co-originator and the tokenization infrastructure provider powering the fund.

A money market fund is a type of mutual fund that invests in low-risk, short-term debt securities like Treasury bills, commercial paper, and certificates of deposit.

As per the announcement, the approval of QCDT by the DFSA marks a major milestone in the advancement of real-world asset (RWA) tokenization in the Middle East region, especially since RWAs are being recognized as a critical bridge between traditional finance (TradFi) and decentralized Finance (DeFi).

RWA products want to tap Dubai and Middle East liquidity 

According to a recent report by Ripple and BCG, the market for tokenized RWAs is projected to grow to $18.9 trillion by 2033 under a midpoint scenario.

Dubai’s First Tokenized Money Market Fund Receives Official Approval from DFSA, a Partnership Project by QNB and DMZ Finance

We are proud to announce that the QCD Money Market Fund (QCDT), a partnership project of @DMZ_Finance with @QNBGroup, as investment manager, has… pic.twitter.com/AYFX0IxIcY

— DMZ Finance (@DMZ_Finance) July 8, 2025

The CEO of QNB Singapore, Silas Lee stated that the approved tokenized market fund in Dubai was a pivotal step in the bank’s digital asset journey. He noted that it marked a new phase and laid a strong foundation for a multi-asset tokenization roadmap.

He stated, “As the Middle East rapidly emerges as a global hub for financial innovation, the successful deployment of QCDT further consolidates QNB’s leadership in the regional financial ecosystem and reflects our long-term vision to shape the next generation of financial infrastructure.”

Nathan Ma, Co-Founder and Chairman of DMZ Finance commented on the tokenized money fund, saying the RWAs are fundamental to bridge traditional capital markets and digital asset economy. He explained, “DMZ Finance is working closely with regulatory and financial institutions across the Middle East and other emerging markets to promote the compliant development of RWA infrastructure.”

The QCDT is being offered as a stable yield, institutional-grade custody, on-chain transparency and compliant tokenized financial product for the Middle East.

It will also be eligible as collateral for banks, mapped collateral for centralized exchanges, reserves for stablecoins and a layer for Web3 payment infrastructure.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More