Bybit’s New Collateral: Cashmere-Coated Cash or Crypto Shenanigans? 🐐💸

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Bybit just unlocked a treasure chest of U.S. Treasury-backed tokens with QNB and DMZ. Because why not let banks play dress-up with your money? 🎩

Bybit Onboards DFSA-Approved Tokenized Money Market Fund

Cryptocurrency exchange Bybit, the digital equivalent of a party animal, announced on Sept. 19 it’s teaming up with QNB Group (Qatar’s bank) and DMZ Finance to launch QCDT, a DFSA-approved tokenized money market fund (MMF) backed by U.S. Treasuries. Basically, it’s like putting your cash in a gold-plated piggy bank and calling it a crypto asset. 🐷💰

Per the news release, QNB will manage the fund while DMZ tokenizes it, and Standard Chartered Bank will babysit it as custodian. Bybit is now letting QCDT be collateral, making it one of the first exchanges to bridge the gap between “traditional finance” and “crypto” like a human-sized bridge. 🌉

QCDT is unlocking up to $1 billion in borrowing capacity, because who doesn’t want to borrow a billion dollars and then cry in their coffee? For centralized exchanges, it’s a way to turn idle cash into crypto yield strategies. For banks, it’s a “low-risk” gateway to digital assets, because nothing says “low-risk” like tokenizing U.S. Treasuries. 🚀

Yoyee Wang, Bybit’s B2B head, said:

By recognising QCDT as collateral, we’re opening the gateway for traditional financial institutions and trading players to join the digital asset party. Because compliance and efficiency are the ultimate party favors. 🎉

Silas Lee of QNB Singapore added:

“QCDT lets investors integrate high-quality assets from traditional finance into the digital economy.” Because nothing says “high-quality” like a tokenized fund that’s basically a U.S. Treasury with glitter. ✨

Nathan Ma of DMZ Finance said the partnership shows “how tokenization can bring innovation to institutional markets.” Translation: We’re all just pretending this isn’t a glorified savings account. 🤪

Bybit now joins Crypto.com and Deribit in letting institutions use tokenized funds as collateral. Because nothing says “trust” like three exchanges doing the same thing at the same time. 🤝

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2025-09-20 13:58