Dubai Greenlights Tokenized Money Market Fund to Power RWA and Web3 Payments

In Brief:

Dubai’s financial regulator has approved the QCDT Fund as a tokenized money market vehicle.

The fund will support institutional use cases including stablecoin backing, trading collateral, and Web3 payments.

Dubai has taken a significant step toward expanding real-world asset (RWA) tokenization by approving the QCD Money Market Fund (QCDT) as a tokenized financial product. The announcement, reported by The Block on July 8, highlights the growing regulatory support for asset tokenization within the Dubai International Financial Centre (DIFC).

The Dubai Financial Services Authority (DFSA) approved the QCDT fund, a joint initiative between Qatar National Bank (QNB) and DMZ Finance. The fund is designed to act as an on-chain representation of traditional money market instruments, making it a compliant and usable asset in the blockchain ecosystem.

DMZ Finance will provide the tokenization infrastructure, while QNB will manage the fund’s issuance and investment strategies.

According to the statement, QCDT is positioned to serve multiple institutional roles:

• As eligible collateral for banks and exchanges.
• As a reserve asset for stablecoins.
• As a foundational layer for Web3 payment systems and financial apps.

This marks one of the first major approvals of its kind in the region, reinforcing Dubai’s ambition to become a global leader in digital finance and tokenized asset infrastructure. The move is also aligned with a broader trend of transforming traditional assets into programmable, blockchain-native forms to improve liquidity, accessibility, and efficiency across global finance.

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