The Dubai Financial Services Authority (DFSA) has approved the QCD Money Market Fund, backed by Qatar National Bank and DMZ Finance, marking a significant milestone in the tokenization of real-world assets (RWAs). This fund, the first of its kind in the Dubai International Financial Centre (DIFC), aims to transition traditional assets onto blockchain technology, enhancing the region's role in digital finance. QNBK and DMZ Finance jointly announced that the fund will target various institutional applications, such as bank-eligible collateral and stablecoin backing. A report from Ripple and BCG forecasts that the global market for tokenized RWAs could reach $18.9 trillion by 2033, positioning cities like Dubai and Doha as frontrunners in this evolution. The fund's deployment is expected to boost compliance and transparency within the financial sector, reflecting a growing trend in financial innovation in the Middle East.

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