BurjX, fully home-grown digital trading platform, goes live
A. SREENIVASA REDDY(ABU DHABI)A fully home-grown digital trading platform — BurjX — has gone live in the UAE after securing Financial Services Permission from the Financial Services Regulatory Authority (FSRA) of ADGM, the international financial centre of Abu Dhabi.The platform, which was launched at a recent event in Abu Dhabi, allows users to trade in over 100 digital assets with seamless access through UAE bank accounts.Speaking to Aletihad on the sidelines of the launch, Omar Abbas, Co-Founder and CEO of BurjX, said: 'We were focused on building something for the UAE, for the MENA market. There are a lot of competitors entering this market, but we are building something from scratch for the UAE. We're not an exchange that's trying to enter this market and capture market share.'Highlighting the platform's user-friendly approach, Abbas added: 'Our product is tailored for both retail and institutional traders. We've made it super simple, where first-time traders can connect directly, and signup is instant. You can trade directly in any of 100 digital assets by routing dirhams from your local account.'BurjX, now officially licensed for both brokerage and custody services, aims to set a new benchmark for regulatory depth and digital asset access in the region. It is integrated with Zand Bank to offer instant dirham on-ramps, enabling users to fund accounts in seconds and begin trading immediately under ADGM's regulatory framework.Abbas, who previously co-founded Canada's leading crypto exchange NDAX, said the FSRA licence and launch with over 100 digital assets proved 'what's possible when you build with conviction from the ground up.'Co-founder and Chairman Adam Ferris, a Harvard JD/MBA graduate and former Goldman Sachs executive, said: '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.'BurjX is also one of the few platforms in the region licensed for both brokerage and custody, offering NASDAQ-grade execution systems, Fireblocks' MPC wallet technology, and institutional-grade infrastructure. It combines fast execution and deep liquidity with multi-layer governance and comprehensive insurance across hot and cold wallets.To serve private wealth clients, BurjX has launched a dedicated Private Client Division offering bespoke OTC services and tailored digital asset solutions. As part of its governance framework, BurjX has appointed Dr Ryan Lemand — a former Binance board member and ex-Head of Risk at the UAE's Securities and Commodities Authority — to its Board.
With the UAE's crypto user base projected to reach nearly four million by 2026 and adoption among the highest globally, BurjX aims to become the Middle East's homegrown bridge to the global crypto economy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
7 hours ago
- Al Etihad
Wall St opens steady as investors prepare for August 1 deadline
25 July 2025 17:46 (Reuters) Wall Street's main indexes opened steady on Friday following record closes for the S&P 500 and the Nasdaq in the previous session, while investors looked for signs of progress in trade talks as they braced for the August 1 tariff deadline. The Dow Jones Industrial Average rose 63.4 points, or 0.14%, at the open to 44757.28. The S&P 500 rose 6.7 points, or 0.10%, at the open to 6370.01, while the Nasdaq Composite rose 2.0 points, or 0.01%, to 21059.941 at the opening bell.
TECHx
9 hours ago
- TECHx
NETSCOUT Reveals Energy-Efficient InfiniStreamNG Design
Home » Emerging technologies » Cyber Security » NETSCOUT Reveals Energy-Efficient InfiniStreamNG Design NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT), a provider of observability, AIOps, cybersecurity, and DDoS protection solutions, announced improvements to its InfiniStreamNG platform that enhance energy efficiency and support IT sustainability. The company revealed that the intentionally efficient design and architecture of InfiniStreamNG reduces operational costs while improving sustainability outcomes. NETSCOUT reported that data center energy use is rising rapidly due to digital transformation and AI advancements. According to the International Energy Agency (IEA), global data center electricity use may more than double by 2030. U.S. data centers alone could consume more electricity than all energy-intensive industries combined. NETSCOUT's InfiniStreamNG and nGeniusONE solutions are built to deliver deep network visibility and analytics. Unlike multi-appliance systems, the InfiniStreamNG probe centralizes functionality, leading to a streamlined and energy-efficient setup. Key findings include:• A 23% average electricity reduction across 500+ InfiniStreamNG devices without compromising performance• Lower energy usage through reduced rack space and simplified deployments • Intelligent data processing that minimizes compute and storage needs Ray Jones, senior director of platform product management at NETSCOUT, said the company optimized the InfiniStreamNG platform to lower energy and operational costs while maintaining essential visibility in complex environments. The company also reaffirmed its commitment to sustainability. It has set science-based emissions reduction targets, aiming to cut absolute Scope 1 emissions by 57.4% and Scope 2 emissions by 42% by FY2030 from an FY2022 baseline. These targets have been validated by the Science-Based Targets initiative (SBTi). NETSCOUT stated that it is already making measurable progress or exceeding these environmental goals.
Zawya
12 hours ago
- Zawya
Stocks drop worldwide as investors brace for crucial week
LONDON/TOKYO - Investors cashed out of highly valued global stocks on Friday and the dollar headed for its biggest weekly drop in a month ahead of a crucial week for markets that includes Donald Trump's tariff deadline and key central bank meetings. MSCI's global equity index retreated from an all-time high and was 0.2% lower in early European trading while Japan's Topix index ended the day 0.9% lower after rising to a record on Thursday. Europe's STOXX 600 share index also fell 0.5% in early trade. Ahead of the August 1 deadline for U.S. trade deals with Europe and China, stock markets have been buoyed up by firm U.S. economic data and framed the risk of tariffs hitting growth as a reason to expect Federal Reserve rate cuts. "Higher (U.S.) inflation will, in time, result in weaker demand and weaker investment," UBS Wealth Management economist Dean Turner said. Van Luu, head of solutions strategy, fixed income and foreign exchange at Russell Investments, said he was waiting for a buying opportunity in U.S. Treasuries for this reason. "U.S. data looks astonishingly resilient," he said, but this likely reflected a spending rush before tariffs pushed business input costs and retail sticker prices higher. RISK EVENTS The past week saw U.S. trade agreements with Japan, Indonesia and the Philippines, while deal talks continued with South Korea. Next week brings the next Fed interest rate meeting, the closely watched monthly payrolls report, and earnings from Amazon, Apple, Meta and Microsoft. Trump has kept up pressure on Fed Chair Jerome Powell to cut rates after a rare presidential visit to the central bank on Thursday, although he said he did not intend to fire Powell, as he has frequently suggested he would. U.S. 10-year Treasury yields were steady at 4.41% while two-year yields, which track monetary policy bets, were also flat at 3.923%. Robust earnings from Google parent Alphabet took Wall Street's Nasdaq to a record high on Thursday but futures trading signalled the tech-heavy index would flatline at the start of cash trading in New York. Contracts tracking the blue-chip S&P 500 index were also flat in early European dealings. The Bank of Japan has its own policy announcement on Thursday, and Prime Minister Ishiba's Liberal Democratic Party holds a meeting on the same day. That's after the European Central Bank held rates steady on Thursday, pausing its easing campaign as it waited to assess the impact from U.S. tariffs. The euro was steady against the dollar on Friday at $1.1745 , although German government debt sold off, with the yield on benchmark 10-year Bunds up 5 basis points (bps) in early dealings to 2.74%, the highest since March 28 . Japanese government bond yields were steady on Friday at about 1.6%, a level last seen in October 2008, having ratcheted higher on concerns the political scale is tilting more towards fiscal stimulus. This came after big gains for opposition parties backing consumption tax cuts in Sunday's upper house election. Pressure is building on the more fiscally hawkish Ishiba to quit after his coalition lost its majority in the vote, having done the same in lower house elections last October. Gold eased 0.3% to around $3,356 an ounce. Brent crude futures gained 0.7% to $69.65 a barrel.
