- Fiat money allows the integration of finance compliant real-world assets using tokens.
- Digital asset strategy boosts the multi-asset tokenization road map of QNB.
- Dubai has been approved in terms of regulation, making it a leader in RWA innovation.
The Dubai Financial Services Authority (DFSA) has officially approved the region’s first regulated tokenized money market fund, marking a historic development in the financial landscape of the Middle East.
The QCD Money Market Fund (QCDT), a collaborative project between Qatar National Bank (QNB) and DMZ Finance, is now authorized to operate within the Dubai International Financial Centre (DIFC).
QNB, the largest financial institution in the Middle East and Africa, will serve as the fund’s investment manager and lead originator. DMZ Finance, based in Singapore, plays the role of co-originator, delivering the tokenization infrastructure behind the fund.
This strategic partnership reflects a growing regional commitment to modern financial frameworks and asset digitalization.
Regulatory Greenlight for Tokenized Money
DFSA official authorization of QCDT places Dubai at the helm of the real world asset (RWA) tokenization innovation. With this approval, QCDT becomes the first officially sanctioned tokenized money fund in the DIFC.
The fund will invest in conventional forms of money market, including treasury bills, commercial paper, and certificates of deposits.
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
As stated in DMZ Finance, tokenized RWAs can become the missing connection between conventional financial regulators and decentralized finance applications.
Current industry estimates, based on recent research by Ripple and Boston Consulting Group, show that the tokenized RWA market has a potential of achieving a value of at least 18.9 trillion dollars by the year 2033.
Silas Lee, the CEO of QNB Singapore, called it a milestone, since the approval of the DFSA was received. He mentioned that it represents an important milestone in the overall QNB digital asset strategy and preconditions the various-vectored tokenization plan.
Strengthening the Digital Asset Ecosystem
The QCDT fund is created to assist many use cases of institutions. It is can be accepted as bank-eligible collateral, reserved in stablecoin, and centralized exchange-mapped collateral. This flexibility allows further permeation between the conventional and e-financial systems.
The fund, besides providing stable returns, offers on-chain transparency, backing by a high standard of custody, and regulatory support. These characteristics establish a new standard of compliant digital financial products in the region.
Tokenized Money Fuels Regional Ambitions
Dubai’s regulatory maturity and forward-looking digital finance policies are attracting global attention. Financial centers like Dubai and Qatar are actively developing frameworks that support tokenized assets and digital finance.
Nathan Ma of DMZ finance also built on this point, saying that compliance of tokenization systems is very critical. He added that such initiatives will be a core part of bridging the traditional capital markets to the new digital markets.
