BurjX Gains Initial Approval from ADGM Regulatory Authority

The landscape of digital assets in the MENA region is evolving rapidly, and BurjX is at the forefront. The UAE-based digital asset brokerage has secured an In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) under the Abu Dhabi Global Market (ADGM). This milestone moves BurjX closer to obtaining its full Financial Services Permission (FSP), which would allow it to operate as a fully licensed trading and custody platform tailored for institutional needs.

ADGM's Framework Backs a Trusted Crypto Future

As the architect of the world’s first all-encompassing regulatory structure for virtual assets, ADGM’s backing signals strong confidence in BurjX’s mission. The approval highlights the platform’s focus on trust, transparency, and long-term institutional growth across the MENA crypto ecosystem.

“This is an exciting step forward – not just for BurjX, but for crypto in MENA as a whole," said Omar Abbas, Co-Founder & CEO of BurjX. "Secure, institutional-grade custody is the foundation of a trusted trading platform, and the MENA region is ready for it. As BurjX moves toward final regulatory approval, we are reimagining crypto trading – seamlessly integrating cutting-edge security with a frictionless trading experience in a single, unified platform.”

Adam Ferris, Co-Founder & Chairman of BurjX, underscored the company’s vision: "This milestone is just the beginning. We’re building something that doesn’t just meet the highest security and regulatory standards – it’s about raising the bar for enterprise-grade custody, compliance, and market integrity. BurjX is shaping the future of responsible digital asset trading.”

Founders Bring Global Experience to Regional Growth

BurjX was built to blend global expertise with local ambition. Its founding team includes Omar Abbas, co-founder of NDAX—one of Canada’s top crypto exchanges—with a rich background in fintech and banking. His experience spans over a decade, including work with leading Canadian banks where he helped bridge traditional finance and emerging crypto markets. Co-founder Adam Ferris, a Harvard JD/MBA and former Goldman Sachs executive, adds robust strategic leadership rooted in high-growth financial and tech environments.

MENA’s Crypto Market Primed for Transformation

The MENA region, now the world’s seventh-largest crypto market with a transaction volume valued at around $338.7 billion in 2024, presents huge potential. Accounting for 7.5% of global crypto activity, it is a prime market for innovation. BurjX is capitalizing on this opportunity by assembling a powerhouse team to drive the next wave of digital asset infrastructure.

Launching a Fully Regulated Crypto Ecosystem

With full regulatory clearance in sight, BurjX plans to launch later this year. The platform will cater to retail, professional, and institutional investors alike, offering a complete suite of services—from seamless fiat onboarding to deep liquidity pools and advanced trading tools—all under strict regulatory compliance.

Institutional-Grade Security at the Core

Security is central to BurjX’s operations. By integrating with Fireblocks, a global leader in digital asset security, BurjX will use multi-party computation (MPC) and cutting-edge protocols to ensure the highest standards of custody, secure asset transfers, and real-time risk oversight—raising the bar for crypto safety in the region.

Insurance and Risk Coverage to Build User Trust

Further enhancing its risk management posture, BurjX has secured industry-leading insurance coverage. This includes comprehensive protection for both customer and operational assets, reinforcing user trust and establishing BurjX as a resilient, security-first platform in the MENA digital asset space.