BurjX has secured a Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), marking the formal launch of its fully licensed digital asset trading platform in the United Arab Emirates. The approval covers both brokerage and custody activities under ADGM’s regulatory framework.
The Abu Dhabi-based firm now offers access to more than 100 digital assets, supported by instant AED deposits and institutional-grade custody. With this launch, BurjX enters a growing UAE market where crypto adoption is forecasted to reach 3.88 million users by 2026, according to recent estimates.
“We’re not another imported platform entering the UAE”
Omar Abbas, Co-Founder and CEO at BurjX, commented, “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 at BurjX, 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 caliber of our team, and our ambition to position BurjX as a global player from day one.”
To support its regulatory and governance framework, BurjX has added Dr. Ryan Lemand to its board. Lemand previously served as Head of Risk at the UAE Securities and Commodities Authority and was a board member at Binance.
BurjX has integrated with Zand Bank to enable instant AED on-ramps, allowing users to deposit in local currency and access more than 100 tokens under ADGM supervision. The platform is structured to support both retail and institutional investors, featuring low-latency trading infrastructure and custody secured by Fireblocks’ multi-party computation technology.
Its technology stack supports over one million transactions per second and includes insurance coverage across hot and cold wallets. The firm’s regulatory approval allows it to offer brokerage and custody on a single platform with built-in compliance and security features.
In addition to its retail platform, BurjX has launched a Private Client Division targeting family offices, institutions, and high-net-worth individuals. Services include white-glove over-the-counter execution, customized support, and access to a wide range of digital assets.
The firm now plans to expand across the UAE and broader MENA region. It is focusing on scaling operations while maintaining its core focus on compliance and technical performance.
Founded by Omar Abbas, a co-founder of Canada’s NDAX exchange, and Adam Ferris, a former Goldman Sachs executive with a Harvard JD/MBA, BurjX positions itself as a local alternative to foreign exchanges. The company claims to combine regulatory clarity, local access, and institutional infrastructure to meet demand across different market segments.
BurjX’s entry arrives amid increasing pressure on global exchanges to establish clear regulatory credentials. As the FSRA enforces a comprehensive virtual asset framework in ADGM, platforms like BurjX appear to benefit from the clarity it offers in contrast to more fragmented regimes elsewhere.
With institutional participation rising and the region’s crypto infrastructure maturing, BurjX says it will continue investing in product expansion and regional presence. The company’s focus remains on building a “trusted, regulated bridge” between local fiat and global digital markets.
