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The financial regulatory body of Dubai approved the first fund for the tokenized money market in the region because the city is trying to lead in the field of digital assets.
Key with you:
- Dubai approved his first tokenized money market fund led by QNB and DMZ Finance.
- The fund brings traditional assets such as the US cash register, for use in web3 and institutional finance.
- This step emphasizes the growing leadership of the Middle East in the tokenization of assets in the real world.
The Dubai Office for Financial Services (DFSA) granted the approval of the fund’s fund QCD (QCDT), which was jointly launched by Qatar National Bank (QNB) and DMZ Finance, according to A Recent announcement.
The Fund will reside in the Dubai International Financial Center (DIFC), while QNB deals with the origin of assets and investment strategy, while DMZ finances the underlying blockchain infrastructure.
Tokenized Fund brings us treasures on a string
According to both companies, this product is designed to bring traditional tools such as American treasures on the chain, allowing use cases such as stablecoin reserves, Web3 payment systems, exchange collaterals and institutional liquidity tools.
Approval reflects the growing profile of the Middle East in the global plant to digitize assets in the real world (RWAS).
“The tokenization of the real world is becoming the basic bridge between traditional capital markets and digital assets economy,” said Nathan Ma, co -founder and chairman of DMZ Finance.
A recent joint study of Ripple and BCG projects that could reach $ 18.9 trillion by 2033, with jurisdictions such as Dubai and Doha as an early leaders.
QNB, the largest bank of the region, uses its deep institutional reach, while the finance of DMZ, part of the Qatar digital laboratory cohort, works to integrate tokenization into local financial infrastructure.
“QCDT is not only the first fund of the tokenized cash market approved by DFSA in Dubai, but also a key step in QNB digital assets,” said Silas Lee, CEO of QNB Singapore.
“It refers to a new phase in our strategic plan and sets a strong basis for the future of tokenization with multiple assets.”
The partnership underscores a wider shift in how banks and FINTECH platforms work together to transform funding through compatible digital tools.
UAE continues to attract crypto
This step comes when UAE continues to stand as a regional blockchain and crypto -financing center, with regulatory clarity attracting main global players.
As stated, a state -supported investment company in Abu Dhabi is set to Make an investment of $ 2 billion into the cryptocurrency of Binance using USD1, Stablecoin developed by World Liberty Financial – a crypto enterprise closely connected with the Trump family.
Experts say UAEs are ready to become The key goal for crypto and stablecoin companies looking for refuge from the newly implemented markets of the European Union (EU) in the regulation of the crypt (SIDA).
The regulatory framework, which was fully carried out on December 30, creates a significant challenge for the company crypto within the 27-member block, which, according to industry experts, has made a lot to consider relocation.
Among his strict requirements, small Stablecoin issuers must organize 30% of their reserves in low -character commercial banks based on the EU, while main players like Tether face a mandate to maintain 60% or more in similar institutions.
Contribution Dubai approves the first tokenized money market fund from QNB and DMZ Finance He appeared for the first time Cryptonews.
