logo
BurjX Secures FSRA License, Launches ADGM-Regulated Trading Platform with 100+ Digital Assets - Middle East Business News and Information

BurjX Secures FSRA License, Launches ADGM-Regulated Trading Platform with 100+ Digital Assets - Middle East Business News and Information

Mid East Info6 days ago
BurjX, the UAE-born digital asset trading platform, has officially secured its Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi, the Capital of the UAE, for brokerage and custody activities.
In a landmark achievement, BurjX becomes a fully regulated digital asset brokerage platform to offer and support trading of over 100 digital assets, setting a new standard for market access, regulatory depth, and product breadth in the region.
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 .
With nearly one-third of the population set to own crypto within the next year, the UAE ranks among the highest adoption rates globally. BurjX is setting the benchmark for what a regulated, homegrown platform can be.
A Mission Born in the UAE, Led by Its Founders
'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.'
'It's rare to see a startup go live with this level of regulatory and technical execution,' said Adam Ferris, Co-Founder and Chairman, a Harvard JD/MBA graduate who previously held key roles at Goldman Sachs. '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.'
As part of its governance framework, BurjX has appointed Dr. Ryan Lemand to its Board. A former Binance board member and ex-Head of Risk at UAE's Securities and Commodities Authority (SCA), he brings deep expertise in regulation, digital assets, and institutional finance.
Trade 100+ Tokens with Instant AED On-Ramps Powered by Zand:
BurjX makes it easy to go from dirhams to digital assets in seconds. Integrated with UAE banking rails through Zand Bank, users can instantly fund their accounts in AED and trade over 100 tokens within seconds, all under the oversight of ADGM's world-leading virtual asset framework. As one of the region's first true fiat-to-crypto bridges, BurjX offers frictionless access to digital markets that is secure, seamless, and proudly UAE native.
Regulated, Institutional-Grade Custody:
As one of the few platforms in the region licensed for both brokerage and custody, BurjX combines the strength of ADGM's virtual asset regime with the speed of institutional-grade infrastructure. Built on NASDAQ-grade systems that process over 1 million transactions per second and secured by Fireblocks' MPC wallet technology, BurjX offers fast execution, deep liquidity, and secure custody on a single, unified platform. From first-time traders to institutions, every transaction is backed by multi-layer governance, comprehensive insurance across hot and cold wallets, and robust regulatory oversight.
A New Standard in Private Wealth:
For family offices, institutions, and high-net-worth clients seeking a more bespoke experience, BurjX has launched its Private Client Division – delivering white-glove OTC services, tailored execution, dedicated relationship coverage, and access to one of the most extensive digital asset offerings in the region. Designed for sophisticated investors, it empowers them to build high-conviction, diversified portfolios with clarity, control, and confidence.
What's Next for BurjX:
With its launch now official, BurjX is entering a new phase of growth; focused on scaling across the UAE and the broader MENA region, while doubling down on its core pillars: security, simplicity, and regulatory strength. With rising adoption from retail users, growing demand from private wealth clients, and deep liquidity across 100+ assets, BurjX is positioned to be the Middle East's homegrown on-ramp to the global crypto economy.
About BurjX:
BurjX is a UAE-born digital asset brokerage and custodian, fully licensed by the Financial Services Regulatory Authority of ADGM, the international financial centre of Abu Dhabi. Founded by Omar Abbas, co-founder of NDAX, and Adam Ferris, a Harvard JD/MBA and ex-Goldman Sachs, BurjX offers institutional-grade trading and custody, seamless AED on and off ramps, and multi-layer security infrastructure. Built for trust and performance, BurjX is redefining how the region engages with digital assets and setting a new benchmark for regulated, homegrown innovation.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dubai-Based IT Company Wins Prestigious HR-Award for Employee Engagement and Happiness - Middle East Business News and Information
Dubai-Based IT Company Wins Prestigious HR-Award for Employee Engagement and Happiness - Middle East Business News and Information

Mid East Info

time16 hours ago

  • Mid East Info

Dubai-Based IT Company Wins Prestigious HR-Award for Employee Engagement and Happiness - Middle East Business News and Information

Reputation House was named among this year's winners alongside Dubai Health Authority, Abu Dhabi Customs, and the Ministry of Education of the UAE Reputation House – a Dubai-based IT company – has been named the winner of the 2025 Stevie® Awards for Great Employers in the category of Engagement/Happiness Team of the Year. The category that recognizes outstanding initiatives designed to boost employee engagement and workplace well-being. The company joins a distinguished group of winners from the United Arab Emirates, including Dubai Health Authority, Abu Dhabi Customs, and the Ministry of Education, all honored for their exceptional efforts in building thriving workplace cultures. 'We're honored to stand alongside national offices like Dubai Health Authority and Abu Dhabi Customs. As a Dubai-born company expanding our global footprint, this award affirms our mission to bring human-centered digital solutions to teams around the world, ' said Dima Raketa, CEO at Reputation House. The jury praised Reputation House for its human-centered approach and impactful internal programs, including: A company-wide focus on people and unlocking individual potential; Internal educational and coaching sessions that empower any team member to become a speaker; Bilingual corporate newsletters and monthly digest; A culture of gratitude and peer recognition. 'This award is more than just recognition — it's proof that when you invest in people and build an environment of trust, the results speak for themselves. Our team is our greatest strength, and we're proud of what we've built together. Many of our team members work remotely across different countries, time zones, and cultural backgrounds — and we strive to create conditions that support everyone. We continuously invest in initiatives that enhance both engagement and employee happiness,' said Kristina Shinkareva, the company's Chief Operating Officer. 'We believe in our people and they believe in us. That mutual trust is what allows us to build a cohesive, motivated team in modern hybrid and remote realities. We actively invest in a positive workplace culture, and it's rewarding to see that investment recognized on a global scale. This award belongs to the entire Reputation House team — to the culture we're creating together,' said Daria Skladchikova, the company's HR Director. In 2024, Reputation House was named the most awarded reputation management firm in the UAE, and this year's recognition further cements its position as a national and global leader in people-first innovation. The Stevie® Awards for Great Employers is one of the most respected global accolades celebrating excellence in HR, workplace culture, and leadership. Winners are selected by an international panel of judges and represent the highest standards of innovation and impact in employee experience.

Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine
Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine

See - Sada Elbalad

timea day ago

  • See - Sada Elbalad

Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine

Israa Farhan Lithuania has committed €30 million towards the procurement of US-made Patriot air defense systems for Ukraine, marking a significant contribution to Western-led efforts to strengthen Kyiv's defense capabilities against ongoing Russian aggression. The announcement was made by Lithuanian Defense Minister Dovile Sakaliene following a high-level meeting in which defense chiefs from the Baltic states convened with US Secretary of Defense Pete Hegseth. The funds will support a joint initiative to acquire advanced anti-aircraft missile systems from the United States. The pledge signals alignment with US President Donald Trump's position that further weapons deliveries to Ukraine will be contingent on European nations financing such efforts. The Patriot missile systems, known for their high-precision interception capabilities, are expected to enhance Ukraine's ability to counter aerial threats, including missile and drone attacks. Under the initiative, NATO will oversee the coordination of logistics and delivery. The United States has confirmed plans to transfer 17 Patriot units as part of this multinational defense effort. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language

Turkey Cuts Interest Rates for First Time Since March as Inflation Slows
Turkey Cuts Interest Rates for First Time Since March as Inflation Slows

See - Sada Elbalad

time3 days ago

  • See - Sada Elbalad

Turkey Cuts Interest Rates for First Time Since March as Inflation Slows

Taarek Refaat The Central Bank of Turkey lowered its key interest rate on Thursday, signaling cautious optimism as inflation shows signs of easing and financial markets regain composure after weeks of political turbulence. The central bank's Monetary Policy Committee (MPC) reduced the benchmark one-week repo rate to 43% from 46%, exceeding market expectations for a 250-basis-point cut. The overnight lending rate was lowered to 46% from 49%, and the overnight borrowing rate to 41.5% from 44.5%. The rate cut marks a resumption of monetary easing, which had been on pause since March amid political unrest triggered by the arrest of Istanbul Mayor Ekrem İmamoğlu, a key opposition figure and potential challenger to President Recep Tayyip Erdoğan. In its statement accompanying the decision, the MPC reaffirmed its commitment to a tight monetary stance 'until price stability is firmly established.' 'The disinflation process will be supported by curbing domestic demand, strengthening the real value of the lira, and improving inflation expectations,' the statement said. It added that future rate decisions will be assessed on a meeting-by-meeting basis, with a continued focus on inflation outlooks. The decision follows a sharper-than-expected slowdown in annual inflation, which declined to 35.1% in June, edging the central bank closer to its year-end target of 24%. Inflation had peaked at 75% in May 2024, making Turkey one of the world's most inflation-prone economies at the time. Turkish markets reacted with relative calm. The Borsa Istanbul 100 Index initially rose by 1% before paring gains to a 0.5% increase by mid-afternoon. Lira-denominated bonds trimmed earlier losses, with the 10-year yield falling to 31.24%. The Turkish lira held largely steady against the dollar. The easing move reflects growing confidence within the central bank, under Governor Fatih Karahan, that financial volatility has cooled since the post-arrest selloff earlier this year. Following İmamoğlu's detention, markets were rattled by protests and political uncertainty, prompting the central bank to raise rates to 46% in April in a defensive move to shore up the currency. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" News Flights suspended at Port Sudan Airport after Drone Attacks

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store