UAE's BurjX Receives ADGM Licence for Digital Asset Trading Platform

UAE-born digital asset trading platform BurjX has secured its Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) for brokerage and custody activities.

The platform has launched as a fully regulated digital asset brokerage offering trading of over 100 digital assets, marking a significant development in the region's cryptocurrency infrastructure.

The UAE's cryptocurrency market is projected to generate US$395.9 million in revenue in 2025, with the user base expected to reach 3.88 million by 2026. Nearly one-third of the population is expected to own cryptocurrency within the next year, placing the UAE among the highest adoption rates globally.

Omar Abbas, Co-Founder and CEO of BurjX
 

"We came to the UAE to build something that reflects the future of this region: regulated, trusted, and globally competitive," said Omar Abbas, Co-Founder and CEO of BurjX, who previously co-founded NDAX, Canada's leading crypto exchange. "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, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs, commented: "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 calibre of our team, and our ambition to position BurjX as a global player from day one."

As part of its governance framework, BurjX has appointed Dr Ryan Lemand to its Board. Lemand is a former Binance board member and ex-Head of Risk at the UAE's Securities and Commodities Authority (SCA).

The platform integrates with UAE banking infrastructure through Zand Bank, enabling users to instantly fund their accounts in AED and trade over 100 tokens. This positions BurjX as one of the region's first comprehensive fiat-to-crypto bridges operating under ADGM's virtual asset framework.

BurjX operates with both brokerage and custody licences, utilising NASDAQ-grade systems capable of processing over one million transactions per second. The platform's security infrastructure includes Fireblocks' MPC wallet technology, multi-layer governance, and comprehensive insurance coverage across hot and cold wallets.

The company has launched a Private Client Division targeting family offices, institutions, and high-net-worth clients. This division provides OTC services, tailored execution, and dedicated relationship management alongside access to the platform's digital asset offerings.

BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM. The platform offers institutional-grade trading and custody services, AED on and off ramps, and multi-layer security infrastructure.