QNB Group and Partners Launch Regulated QCD Tokenized Money Market Fund
Bybit collaborates with QNB Group and DMZ Finance to introduce the world’s first DFSA-approved tokenized money market fund, offering institutional lending of up to $1 billion.
Fact Check
Multiple credible sources, including Reuters, Yahoo Finance, and Coindesk, corroborate that QNB Group, along with partners such as Standard Chartered and DMZ Finance, has launched the regulated 'QCD Money Market Fund'. The evidence confirms the fund is tokenized and has received approval from the Dubai Financial Services Authority.
Summary
Bybit has partnered with Qatar National Bank (QNB) and DMZ Finance to launch QCDT, the first DFSA-approved tokenized money market fund. Backed by U.S. Treasuries and managed by QNB, the fund provides up to $1 billion in institutional lending. With Standard Chartered as custodian, the initiative bridges traditional finance and digital assets, offering secure and compliant access to institutional investors.
Terms & Concepts
- DFSA-Approved: Refers to financial products or services approved by the Dubai Financial Services Authority, ensuring regulatory compliance within the DIFC.
- QCDT: A tokenized money market fund launched by Bybit, backed by US Treasuries and designed to offer institutional investors a low-risk digital asset investment option.
- Lending Capacity: The amount of capital a financial institution can lend to borrowers, in this case, up to $1 billion in tokenized collateral on Bybit's platform.