Dubai approves Qatar National Bank's tokenized money-market fund

The Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund (QCDT), which is co-founded by Qatar National Bank and blockchain financial technology firm DMZ Finance, CoinDesk reported. Notably, QCDT represents the first tokenized money-market fund that is officially set up in the Dubai International Financial Centre (DIFC). Qatar National Bank will be responsible for QCDT's investment strategy and asset origination, while DMZ Finance will offer the technology required for the fund's digital architecture.