BurjX Receives In-Principle Approval from ADGM’s FSRA, Paving the Way for Regulated Crypto Trading in MENA

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BurjX Receives In-Principle Approval from ADGM’s FSRA, Paving the Way for Regulated Crypto Trading in MENA

UAE-based digital asset brokerage BurjX has achieved a major regulatory milestone, announcing that it has received In-Principle Approval (IPA) from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM). This step brings BurjX closer to obtaining its Financial Services Permission (FSP) to launch a fully regulated, institutional-grade crypto trading and custody platform in the MENA region.

The approval reflects BurjX’s commitment to compliance, transparency, and trust, aligning with ADGM’s globally respected virtual asset regulatory framework—the first of its kind in the world.

“A New Era for Crypto in MENA”

Omar Abbas, Co-Founder and CEO of BurjX, said:

“This is an exciting step forward – not just for BurjX, but for crypto in MENA as a whole. Secure, institutional-grade custody is the foundation of a trusted trading platform, and the MENA region is ready for it.”

As BurjX prepares for full regulatory launch, the platform aims to integrate bank-grade security with a frictionless user experience to serve retail, professional, and institutional investors alike.

Adam Ferris, Co-Founder and Chairman, emphasized:

“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.”

Wall Street Expertise Meets MENA Opportunity

Founded by financial industry veterans, BurjX brings deep North American fintech experience into MENA’s booming crypto market. Abbas, also a co-founder of Canada’s NDAX, and Ferris, a Harvard JD/MBA and former Goldman Sachs executive, have assembled a world-class team with the vision to make BurjX a leading crypto powerhouse.

Launching Later in 2025

Slated to go live later this year, BurjX’s platform will offer:

Regulated crypto trading and custody
Secure fiat on/off ramps
Deep liquidity and advanced execution tools
Fireblocks-powered MPC security
Comprehensive insurance coverage for client and operational assets

As the MENA region solidifies its position as the seventh-largest crypto market globally, valued at $338.7 billion in 2024, BurjX aims to set a new standard for responsible digital asset trading.