BurjX, a UAE-based digital asset brokerage, has received
In-Principle Approval (IPA) from the Financial Services Regulatory Authority
(FSRA) of Abu Dhabi Global Market (ADGM). The approval brings the platform
closer to launching as a fully regulated digital asset trading and custody
provider.
BurjX Targets Compliant Crypto in MENA
BurjX offers access to digital assets like Bitcoin,
Ethereum, and Solana. Designed specifically for the MENA region, the platform
is in the final stages of regulatory approval and aims to set new standards for
compliant crypto trading and custody. ADGM, known for its pioneering virtual
asset regulatory framework, plays a key role in this process.
Exciting news from BurjX! The UAE-based digital asset brokerage has received In-Principle Approval from Abu Dhabi’s FSRA, setting the stage for a secure and regulated trading platform in MENA. As we approach our official launch, we’re committed to shapin… https://t.co/yFME7enseQ
— BVOX TOP Crypto Exchange | FanClub (@TokenCryptoSpot) May 6, 2025
Platform Expected to Launch This Year
The platform was founded by Omar Abbas, co-founder of NDAX,
a Canadian cryptocurrency exchange, and Adam Ferris, a former Goldman Sachs
executive. With final approval expected soon, BurjX is preparing to launch
later this year. It will offer a suite of trading and custody services for
retail, professional, and institutional traders.
For security, BurjX has partnered with Fireblocks to
integrate multi-party computation (MPC) technology, along with other security
protocols. This ensures asset protection, secure transfers, and real-time risk
management.
You may find it interesting at FinanceMagnates.com: DFSA
Publishes List of “Recognised Crypto Tokens” as Changes Take Effect.
ADGM Partners with Chainlink for Tokenization
Meanwhile, ADGM
has signed a Memorandum of Understanding with Chainlink to support the
development of compliant tokenization frameworks. Under the agreement,
Chainlink will provide technical expertise to projects overseen by ADGM’s
Registration Authority.
The collaboration focuses on advancing the use of tokenized
assets within a regulatory framework. It also includes plans for educational
events on blockchain, interoperability, and related technologies, supporting
ADGM’s broader efforts to encourage regulated innovation in digital finance.
This article was written by Tareq Sikder at www.financemagnates.com.
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