Bybit Partners with Qatar National Bank for Tokenized Money Market Fund
Bybit has partnered with Qatar National Bank (QNB) and DMZ Finance to introduce QCDT, a tokenized money market fund, on Bybit's platform.
The integration aims to create up to $1 billion in new borrowing capacity for institutional investors, targeting both traditional financial firms and crypto trading institutions.
QCDT is backed by US Treasuries and managed by QNB, with Standard Chartered Bank providing custodian support.
This initiative is presented as the first DFSA-approved tokenized money market fund, although official confirmation from DFSA is not publicly available.
Executives emphasize that tokenizing real-world assets like Treasuries enhances investor empowerment and access for traditional investors.
The partnership highlights a growing trend of focusing on the Middle East, similar to Polygon's expansion efforts with Cypher Capital.
Tokenization of real-world assets is gaining momentum, with projects in equities and bonds further expanding institutional access to digital assets.
