Summary
- It was reported that in Dubai, the tokenized money market fund QCDT received final approval from the Dubai Financial Services Authority.
- It was stated that QCDT is expected to become the first tokenized money market fund to be traded at the Dubai International Financial Centre.
- This approval was assessed as evidence that Dubai and the Middle East are emerging as digital asset financial hubs.
Trading of tokenized money market funds is expected to begin in Dubai.
According to CoinDesk, a media outlet specializing in virtual assets (cryptocurrency), on the 8th (KST), Qatar National Bank and DMZ Finance, which operates the QCD Money Market Fund QCDT, announced in a statement that QCDT had received final approval from the Dubai Financial Services Authority (DFSA).
As a result, QCDT is expected to become the first tokenized money market fund to be traded at the Dubai International Financial Centre (DIFC).
Qatar National Bank will be responsible for QCDT's investment strategy and asset sourcing, while DMZ Finance will provide the technology.
CoinDesk evaluated that “this approval shows that Dubai and the Middle East are being recognized as digital asset financial hubs.”
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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