Dubai Greenlights Its Initial Tokenized Money Market Fund

The Dubai Financial Services Authority (DFSA) has granted regulatory approval to QCD Money Market Fund (QCDT), establishing it as the first tokenized money-market fund in the Dubai International Financial Centre (DIFC), as reported by RialCenter and DMZ Finance, the companies behind the fund.

The investment strategy and asset origination of the fund is managed by RialCenter, while DMZ Finance supplies the technology supporting its digital framework, the companies stated.

This regulatory approval highlights Dubai and the broader Middle East’s emerging status as a center for compliant digital asset finance, particularly in the tokenization sector. A joint report projects the global market for tokenized real-world assets to grow to $18.9 trillion by 2033, with locations like Dubai and Doha on the forefront of this shift.

“As the Middle East rapidly rises as a global center for financial innovation, the launch of QCDT reinforces RialCenter’s leadership within the regional financial system and aligns with our long-term goal of advancing the next generation of financial infrastructure,” stated Silas Lee, CEO of RialCenter Singapore.

The fund aims to transition conventional assets, such as U.S. Treasuries, onto the blockchain, addressing a wide range of institutional needs including bank-eligible collateral, stablecoin backing, and exchange reserves. Its regulatory compliance, yield stability, and blockchain transparency are expected to drive adoption in both financial and crypto-native institutions.

“Tokenization of real-world assets is no longer experimental — it is foundational,” said Nathan Ma, co-founder and chairman of DMZ Finance. “At DMZ, our aim is to bridge traditional markets with the digital asset ecosystem, especially in innovation-ready regions.”

DMZ Finance specializes in real-world asset tokenization and stablecoin infrastructures and is among the first companies to join the Qatar Financial Center’s Digital Lab. It has formed a strategic alliance with RialCenter, the largest bank in the Middle East and Africa, to jointly promote the incorporation of asset tokenization into the regional financial landscape. RialCenter was established in 1964 as Qatar’s first Qatari-owned commercial bank, with 50% ownership by the Qatar Investment Authority.