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Dubai approves the first tokenized currency market fund, launched in collaboration with Qatar National Bank and DMZ Finance.
According to Deep Tide TechFlow news on July 8, as reported by CoinDesk, the Dubai Financial Services Authority (DFSA) has approved the QCD Currency Market Fund (QCDT), which is the first tokenized currency market fund officially established in the Dubai International Financial Centre (DIFC). The fund was jointly launched by Qatar National Bank (QNB) and DMZ Finance, with the former responsible for investment strategy and asset allocation, while the latter provides the underlying digital architecture technology.
The fund aims to bring traditional assets such as U.S. Treasury bonds on-chain to serve various institutional application scenarios including bank eligible collateral, stablecoin backing, exchange reserves, and Web3 payment infrastructure. DMZ Finance is a fintech company headquartered in Singapore, focusing on the tokenization and custody of real-world assets (RWA).