Dubai approves a cryptocurrency market fund supported by the Qatar National Bank and DMZ Finance.

The Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund (QCDT) supported by the Qatar National Bank (QNB) and DMZ Finance, becoming the first cryptocurrency money market fund approved for issuance at the Dubai International Financial Centre (DIFC). The fund's investment strategy and asset initiation is led by the Qatar National Bank, while DMZ Finance provides the technology to support the fund's digital architecture.

The fund aims to bring traditional assets such as U.S. Treasuries onto the blockchain to serve various applications for organizations, including bank-eligible collateral, stablecoin support, exchange reserves, and Web3 payment infrastructure. Supporters say they hope the fund will drive adoption by financial institutions and native cryptocurrency organizations with regulatory compliance, yield stability, and on-chain transparency.