BurjX Secures FSRA License, Launches ADGM-Regulated Platform With Over 100 Digital Assets

BurjX, a digital asset trading platform from the UAE, has successfully obtained its Financial Services Permission for both brokerage and custody operations from the Financial Services Regulatory Authority (FSRA) within Abu Dhabi's international financial center, ADGM.

This authorisation marks a significant milestone, positioning BurjX as the first fully regulated digital asset brokerage in the region, capable of supporting over 100 digital assets. This move is set to redefine standards for market accessibility, regulatory compliance, and the range of products available in the Middle East.

The digital currency landscape in the UAE is on an impressive growth trajectory, with forecasts suggesting the market will bring in revenues of US$395.9 million by 2025. Furthermore, the anticipated user base is projected to exceed 3.88 million by 2026. Given these figures, nearly a third of the UAE's populace is expected to engage in cryptocurrency transactions within the forthcoming year, establishing the UAE as a leader in global crypto adoption rates. BurjX, with its regulated and domestically developed platform, aims to set a new benchmark in the cryptocurrency sector.

Omar Abbas, Co-Founder and CEO of BurjX and previous co-founder of Canada's leading crypto exchange NDAX, shared his vision for the platform, "We came to the UAE to build something that reflects the future of this region: regulated, trusted, and globally competitive. Securing our FSRA license and launching with 100+ assets is proof of what's possible when you build with conviction from the ground up. We're not another imported platform entering the UAE. We're a homegrown one, built here to lead globally."

Adam Ferris, Co-Founder and Chairman of BurjX and a Harvard JD/MBA graduate with a distinguished background at Goldman Sachs, also commented on the platform's launch, "It's rare to see a startup go live with this level of regulatory and technical execution. This launch validates the strength of our infrastructure, the caliber of our team, and our ambition to position BurjX as a global player from day one."

Facilitating a seamless transition from fiat to digital currencies, BurjX has integrated with the UAE's banking infrastructure through a partnership with Zand Bank. This collaboration enables users to instantaneously fund their accounts in AED and trade a wide array of over 100 tokens swiftly. This integration underscores BurjX's position as one of the initial platforms in the region to offer a true fiat-to-crypto gateway, ensuring secure, effective, and immediate access to the digital asset markets under the stringent oversight of ADGM's virtual asset framework.

Distinctively, BurjX is among the select platforms in the Middle East authorised for both brokerage and custody services. The platform harnesses the strength of ADGM's virtual asset legislation, coupled with high-speed, institutional-grade infrastructure. Employing NASDAQ-caliber systems capable of handling over 1 million transactions per second and fortified by Fireblocks' MPC wallet technology, BurjX assures swift transactions, substantial liquidity, and secure custody. This unified platform guarantees that every trade, whether by novice traders or institutions, is protected by multi-layer governance, extensive insurance, and stringent regulatory surveillance.

For investors seeking a tailored and high-level service, BurjX has introduced its Private Client Division. This new service caters to family offices, institutions, and affluent clients, offering personalized OTC services, strategic execution, dedicated relationship management, and access to an expansive digital asset catalog. Tailored for discerning investors, this division enables them to curate well-informed, diversified portfolios with precision, sovereignty, and confidence.