World-preeminent entities Bybit, QNB Group, and DMZ Finance join forces to initiate the launch of the inaugural tokenized Money Market Fund (MMF) backed by the DFSA, serving as collateral.
Bybit, the second-largest global cryptocurrency exchange by trading volume, has made a significant stride in integrating Real World Assets (RWAs) into digital finance. The exchange has partnered with QNB Group and DMZ Finance to accept Qatar Central Securities Depository's Token (QCDT) as collateral.
QCDT, a tokenised money market fund, is backed by U.S. Treasuries and is regulated within the Dubai International Financial Centre (DIFC). The bank acting as custodian for QCDT is State Street Bank, while Qatar National Bank manages the fund, with custodian support from Standard Chartered Bank.
The deployment of QCDT as collateral on Bybit creates up to USD 1 billion in borrowing capacity. This move provides new opportunities for established CEX-trading institutions to deploy institutional funds into exchange-based yield strategies in a secure and compliant manner.
For traditional financial institutions, this move offers a safe, regulatory-aligned entry point into digital assets. By combining U.S. Treasury-backed yields with low-risk, collateralised participation in the crypto ecosystem, QCDT offers a unique blend of institutional-grade security and regulatory clarity.
QCDT is the world's first DFSA-approved tokenised money market fund and is now available as a collateral asset on Bybit's platform. This partnership between Bybit, QNB Group, and DMZ Finance marks a breakthrough in bridging traditional finance and digital assets.
By accepting QCDT as collateral, Bybit is setting a new benchmark for the integration of RWAs in digital finance. This move is expected to further bolster the exchange's position as a leader in the digital asset space, while providing a secure and compliant avenue for traditional financial institutions to participate in the crypto ecosystem.
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