UAE-based digital asset brokerage BurjX has obtained In-Principle Approval (IPA) from ADGM’s Financial Services Regulatory Authority (FSRA), a major step toward full licensing as a regulated institutional trading and custody platform. Backed by North American crypto expertise, BurjX is led by Omar Abbas (co-founder of Canada’s NDAX) and Adam Ferris (ex-Goldman Sachs, Harvard JD/MBA), combining deep fintech and institutional finance experience to drive MENA’s crypto growth.

“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, saying, “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.”

The MENA crypto market, valued at $338.7 billion (7.5% of global transactions), presents a major opportunity. BurjX aims to meet demand with secure fiat on/off-ramps, deep liquidity, and advanced execution tools—all within a fully compliant framework. Since security is paramount, BurjX integrates Fireblocks’ MPC custody tech and offers institutional-grade insurance, setting a new standard for asset protection in the region.

With final approval expected soon, BurjX is on track to launch very soon, bringing trusted, regulated digital asset trading to MENA’s retail, professional, and institutional investors.