BurjX Obtains FSRA License, Debuts ADGM-Supervised Digital Asset Trading Platform with Over a Hundred Crypto-tokens
The United Arab Emirates (UAE) is set to see a surge in the digital asset market, with projections indicating that it will generate $395.9 million in revenue in 2025 and boast an expected user base of 3.88 million by 2026 [1][3][5]. In this rapidly growing landscape, BurjX, a UAE-based digital asset trading platform, has emerged as a key player, securing its Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM), making it one of the first homegrown platforms in the region with such comprehensive regulatory approval [1][3].
As a fully regulated platform, BurjX stands out as a pioneer, setting a new standard by being fully licensed and regulated locally within the UAE financial system [1][5]. This regulatory depth gives it a significant advantage over many other platforms in the region that either lack local licensing or have more limited regulatory oversight.
BurjX offers a broad spectrum of cryptocurrencies, with support for over 100 digital assets [1][3]. This product breadth is positioned as a competitive differentiator that aligns well with the growing UAE crypto market. The platform is built by Omar Abbas, co-founder and CEO, who previously co-founded NDAX, Canada's leading crypto exchange, and Adam Ferris, co-founder and chairman, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs [6].
BurjX is also positioned to cater to the needs of sophisticated investors. Its private client division delivers tailored execution, dedicated relationship coverage, and access to an extensive digital asset offering in the region [1]. The platform is integrated with UAE banking rails through Zand Bank, allowing users to instantly fund their accounts in AED and trade over 100 tokens within seconds [2].
In terms of security, BurjX offers institutional-grade trading and custody, seamless AED on- and off-ramps, and multi-layer security infrastructure, built on NASDAQ-grade systems and secured by Fireblocks' MPC wallet technology [1]. The platform is also backed by industry experts, with Dr. Ryan Lemand, a former Binance board member and ex-head of risk at the UAE's Securities and Commodities Authority (SCA), recently appointed to BurjX's Board [4].
As BurjX enters a new phase of growth, it is focusing on scaling across the UAE and the broader MENA region. The platform aims to capture the significant portion of the population expected to own cryptocurrencies shortly, positioning itself as the Middle East's homegrown on-ramp to the global crypto economy [1][2][3]. With rising adoption from retail users and growing demand from private wealth clients, BurjX is well-positioned to capitalise on the fast-growing digital asset market in the UAE.
References: [1] BurjX Press Release, [2022]. Available at: https://www.burjx.com/press-releases/burjx-secures-financial-services-permission-from-the-fsra-of-adgm [2] Zawya, [2022]. Available at: https://www.zawya.com/mena/en/business/story/BurjX_secures_financial_services_permission_from_the_FSRA_of_ADGM-ZAWYA20220215094054/ [3] Gulf Business, [2022]. Available at: https://gulfbusiness.com/burjx-secures-financial-services-permission-from-the-fsra-of-adgm/ [4] Cointelegraph, [2022]. Available at: https://cointelegraph.com/news/former-binance-board-member-ryan-lemand-joins-burjx-board-of-directors [5] The National, [2022]. Available at: https://www.thenationalnews.com/business/economy/uae-crypto-market-to-generate-d396m-revenue-in-2025-with-388m-user-base-expected-by-2026-1.1120981 [6] BurjX Team, [2022]. Available at: https://www.burjx.com/team
- BurjX, a fully licensed and regulated digital asset trading platform based in the UAE, offers a wide variety of cryptocurrencies, including over 100 digital assets, aiming to cater to the growing UAE market and position itself as the Middle East's homegrown on-ramp to the global crypto economy.
- With its comprehensive regulatory approval, institutional-grade trading and custody, and multi-layer security infrastructure, BurjX attracts both retail users and growing demand from private wealth clients, putting it in a strategic position to capitalize on the fast-growing digital asset market in the UAE and beyond.
