Bybit, the world’s second-largest crypto exchange by trading volume, has taken a major step in bridging traditional finance and digital assets. In a strategic collaboration with QNB Group and DMZ Finance, Bybit is now the first global exchange to accept QCDT, the world’s first DFSA-approved (Dubai Financial Services Authority) tokenised money market fund (MMF), as a collateral asset on its platform.

QCDT: Institutional Security Meets Digital Access

QCDT combines institutional-grade security with regulatory clarity. Managed by Qatar National Bank and tokenised by DMZ Finance, the fund is backed by U.S. Treasuries and custodied with support from Standard Chartered Bank. Bybit’s integration allows institutions to deploy these high-quality, yield-bearing assets into crypto markets, bridging the gap between real-world assets (RWAs) and digital finance.

“This collaboration is a pivotal step for Bybit’s evolving institutional strategy,” said Yoyee Wang, Head of Business-to-Business Unit at Bybit. “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.”

Unlocking Institutional Capital

The inclusion of QCDT as collateral creates up to USD 1 billion in borrowing capacity, opening new opportunities for both crypto-native and traditional finance institutions:

• For Established CEX-Trading Institutions: Provides a compliant channel to deploy capital that would otherwise sit idle in traditional bank accounts.
• For Traditional Financial Institutions: Offers regulated exposure to digital assets, combining U.S. Treasury-backed yields with low-risk, collateralised participation in crypto markets.

Strengthening Bybit’s Institutional Role

Bybit’s adoption of QCDT reinforces its position as a bridge between traditional finance and crypto:

• Institutional Credibility: First crypto exchange to support a DFSA-approved, institutional-grade tokenised fund as collateral.
• Capital Inflows: Unlocks billions of dollars in potential liquidity from previously idle institutional funds.
• Strategic Alignment: Boosts trust through collaboration with QNB, DMZ Finance, and Standard Chartered Bank.
• Future Growth: Opens doors for new RWA-linked products, including QCDT-backed stablecoins and yield strategies.

“QCDT is a pioneering step in using blockchain to tokenise real-world assets,” said Silas Lee, CEO of QNB Singapore. “This partnership allows investors to integrate high-quality, yield-bearing traditional assets into the digital economy.”

Nathan Ma, Co-founder of DMZ Finance, added: “Our mission is to make real-world assets accessible digitally. QCDT demonstrates how tokenisation can innovate institutional markets while bridging liquidity and access for TradFi investors.”

Bybit’s move highlights a broader trend: exchanges increasingly look to integrate regulated, tokenised real-world assets to attract institutional capital. With QCDT as collateral, Bybit isn’t just opening a new market—it’s laying the groundwork for a hybrid financial ecosystem, where traditional and digital finance coexist seamlessly.