Bybit partners with Qatar National Bank to list a tokenized money market fund as collateral, a move claimed to be a first under Dubai’s regulator.
Crypto exchange Bybit has partnered with Qatar National Bank (QNB) and infrastructure firm DMZ Finance. The group will introduce a tokenized money market fund, called QCDT, as a collateral asset on Bybit’s platform.
According to the press release published by the group, the integration could create up to $1 billion in new borrowing capacity for institutional investors. The fund is intended for use by both traditional financial firms and crypto trading institutions.
The fund is being promoted as the first of its kind to be approved by the Dubai Financial Services Authority (DFSA). The DFSA has not posted a public confirmation of this approval on its official website or in its official registry.
The QCDT fund is backed by US Treasuries. QNB, the largest financial institution in the Middle East and Africa, will manage the assets. Custodian support is provided by Standard Chartered Bank.
Tokenized Treasuries for Institutional Use
Executives from the firms commented on the partnership. Bybit’s Yoyee Wang said the collaboration strengthens the exchange’s role as a bridge between the traditional and digital financial worlds.
Silas Lee of QNB noted that tokenizing real-world assets like Treasuries empowers investors. Nathan Ma from DMZ Finance added that the project will improve access for traditional investors.
@DMZ_Finance, @QNBGroup and @Bybit_Official form strategic partnership as QCDT becomes Bybit’s FIRST recognized RWA collateral asset, unlocking a new gateway for institutional access to digital assets
🌉 QCDT: First DFSA-approved tokenized MMF, powered by QNB Group, DMZ Finance… pic.twitter.com/HcdwgB2tzt
— DMZ Finance (@DMZ_Finance) September 19, 2025
The partnership is the latest to focus on the Middle East. Recently, Coinspeaker reported on Polygon’s partnership with Cypher Capital to expand its presence in the region. The deal involves the venture firm taking a large allocation of Polygon’s POL POL $0.12 24h volatility: 13.8% Market cap: $1.23 B Vol. 24h: $130.72 M token to provide structured access and yield strategies for institutional investors.
Other firms have also been active in tokenizing real-world assets. In the equities space, Coinspeaker reported that Ondo Global Markets launched over 100 tokenized equities on Ethereum for non-US investors. In the tokenized bond market, a separate report showed that Polygon holds a leading position with over $1.1 billion in assets, commanding a 62% share of the global market.
next