Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a strategic collaboration with QNB Group and DMZ Finance.
The partnership introduces QCDT, a tokenised money market fund (MMF) approved by the Dubai Financial Services Authority (DFSA), onto Bybit’s platform as a collateral asset, representing a step towards integrating traditional finance with digital assets.
Bybit is the first global crypto exchange to accept QCDT as collateral, marking a new approach to incorporating Real World Assets (RWAs) into digital finance.
QCDT is managed by Qatar National Bank, utilises DMZ Finance’s tokenisation technology, and is custodied with support from Standard Chartered Bank.
The fund, regulated within the Dubai International Financial Centre (DIFC) and backed by U.S. Treasuries, offers institutional-grade security within a regulatory framework.
The use of QCDT as collateral on Bybit is expected to create up to USD 1 billion in borrowing capacity, providing new options for institutional participants.
For established CEX-trading institutions, it offers a regulated channel to deploy funds that might otherwise remain idle in traditional bank accounts into exchange-based strategies.
For traditional financial institutions, it provides a low-risk, compliant entry point into digital assets, combining US Treasury-backed yields with collateralised participation in the crypto market.
Bybit’s adoption of QCDT aligns with its objective to serve as a bridge between traditional financial institutions and the digital asset ecosystem, particularly in the Middle East.
It could unlock billions of dollars in institutional liquidity currently held in banking systems, and the collaboration with QNB, DMZ Finance, and custodian support from Standard Chartered Bank reinforces trust and confidence in the platform.
The partnership may also pave the way for additional RWA-linked products, including QCDT-backed stablecoins and yield strategies.
Yoyee Wang, Head of Business-to-Business Unit at Bybit, said:
“This collaboration is a pivotal step for Bybit’s evolving institutional strategy. By recognising QCDT as collateral, we are opening the gateway for traditional financial institutions and established trading players to participate in the digital asset ecosystem with security, compliance, and efficiency. Our role as the bridge between traditional and digital finance has never been clearer.”
Silas Lee, CEO of QNB Singapore, commented:
“This partnership with DMZ Finance and Bybit allows us to further extend the reach of institutional capital efficiently across traditional and digital markets, backed by a DFSA-approved framework and world-class partners.”
Featured image credit: Edited by Fintech News Middle East, based on image by oleshkoart via Freepik
