DMZ Finance and Mantle Network have officially launched the world’s first tokenized money market fund onchain, with the Dubai Financial Services Authority (DFSA)-approved QCDT going live on Mantle.
The announcement comes nearly two months after Bybit, the world’s second-largest cryptocurrency exchange by trading volume, added support for QCDT.
Bybit became the first crypto exchange to take this step, unveiling a partnership with QNB Group and DMZ Finance to integrate a DFSA-approved tokenized money market fund as collateral.
QCDT is now expanding to Mantle’s scalable layer-2 infrastructure as the crypto space witnesses the further integration of decentralized finance (DeFi) and institutional-grade assets. MNT, the native Mantle token, rose almost 3% on the news.
Mantle brings a DFSA-approved tokenized money market fund onchain
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DMF Finance said in its announcement that it was working with Mantle and Bybit to bring QCDT onchain.
The aim is to enable further adoption of QCDT, a regulated, yield-bearing token backed by Qatar National Bank, DMZ Finance and Standard Chartered.
The MMF provides access to institutional exposure to onchain financing, the company said.
The deployment on Mantle’s modular L2 chain is driven by market demand for real-world asset products delivered onchain.
“At DMZ Finance, our mission is to make real-world assets accessible in digital form,” said Nathan Ma, co-founder and chairman of DMZ Finance.
Working with Mantle and Bybit shows how tokenization can bring innovation to institutional markets while bridging liquidity and access for more TradF and Web3 investors.
Leveraging Mantle’s architecture, the tokenized MMF achieves near-instantaneous settlement times and minimal transaction fees, while maintaining the security of Ethereum’s base layer.
In the event of adoption, users will interact with the fund through DMZ Finance’s regulated platform at the Dubai International Financial Center (DIFC).
“Tokenized money market funds like QCDT represent a fundamental bridge between traditional finance and DeFi,” said Belle, head of business development at Mantle.
By leveraging Mantle’s modular infrastructure, we ensure compliant, high-quality assets can be moved on-chain, paving the way for scalable institutional adoption.
Central to the product’s success is its groundbreaking DFSA approval, which was achieved in December 2024 and reaffirmed through ongoing audits from November 2025.
Shroud, DMZ eye more traction
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According to details, the collaboration between DMZ Finance and Mantle is just getting started. The companies envision a broader ecosystem of tokenized assets, and plans include onboarding additional funds.
Euro-denominated money market funds are in the pipeline, as are integrations across the ecosystem to increase global reach.
The partners aim to support more than $500 million in tokenized RWAs on Mantle, targeting underserved segments such as family offices and sovereign wealth funds looking for diversified, compliant portfolios.
Mantle has over $4 billion in community-owned assets on-chain, while native token MNT recently got a big boost with a major Anchorage Digital integration.
In addition to Anchorage and DMZ Finance, critical ecosystem partnership projects involving Mantle include Ethena, Ondo, OP-Succinct and EigenLayer.