Bybit Partners with QNB Group and DMZ Finance for DFSA-Approved Fund
- Cryptocurrency exchange Bybit announced a partnership with Qatar’s QNB Group and DMZ Finance.
- The collaboration launched the first Dubai Financial Services Authority (DFSA)-approved tokenized money market fund.
- The fund, named QCDT, is backed by U.S. Treasuries, providing a secure investment option.
- Bybit aims to accept this DFSA-approved tokenized money market fund as collateral.
On September 19, Bybit revealed its strategic collaboration with QNB Group and DMZ Finance to introduce the first DFSA-approved tokenized money market fund in Dubai. This initiative provides investors with a regulated and secure option backed by U.S. Treasuries.
The launch of the QCDT fund marks a significant step in offering regulated financial products within the cryptocurrency space, leveraging traditional assets like U.S. Treasuries to ensure security and compliance. Source
