BurjX has achieved full regulatory approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), positioning it as a fully regulated Virtual Asset Multilateral Trading Facility (MTF) and custodian within the UAE’s burgeoning digital asset ecosystem. This significant milestone underscores ADGM’s role as a leading global hub for virtual assets and signals a new era of secure and compliant crypto services in the region, particularly for institutional and retail clients.
Navigating the Regulatory Landscape
This comprehensive approval means BurjX can now offer a full spectrum of virtual asset trading and custody services to both institutional and retail clients under ADGM’s robust regulatory framework. As a fully licensed MTF and custodian, BurjX is empowered to facilitate secure and transparent digital asset transactions, aligning with ADGM’s stringent standards for financial integrity and investor protection. Sameer Naik, CEO of BurjX, emphasized the pivotal nature of this achievement, stating, “Receiving full FSRA approval from ADGM is a monumental step for BurjX. It solidifies our position as a trusted and fully compliant virtual asset platform and underscores our commitment to fostering a secure and transparent digital asset ecosystem.”
Enhancing Trust and Security in Digital Assets
The regulatory endorsement from ADGM’s FSRA is set to significantly enhance trust and operational security for participants in the virtual asset space. By operating within one of the world’s most reputable regulatory environments, BurjX aims to attract a broader base of institutional investors seeking compliant entry points into the digital asset market. Hamad Al Mazrouei, CEO of the ADGM Registration Authority, highlighted the broader impact, noting, “ADGM continues to strengthen its position as a leading global hub for virtual assets. The full approval of BurjX as an MTF and custodian underscores our commitment to fostering a regulated, secure, and innovative virtual asset landscape.” This regulatory clarity is crucial for mainstream adoption and institutional engagement in the MENA region’s digital economy.
Strategic Growth and Market Position
With this full regulatory status, BurjX is strategically positioned to become a premier platform for virtual asset trading and custody, not just regionally but globally. The platform is committed to providing a comprehensive suite of services that adhere to the highest standards of compliance, security, and technological innovation. This move aligns perfectly with ADGM’s vision to be a progressive international financial centre that champions innovation while ensuring regulatory oversight, further solidifying the UAE’s leadership in the global fintech and digital asset space.
About BurjX
BurjX is an innovative virtual asset trading platform and custodian based in Abu Dhabi Global Market (ADGM), UAE. Committed to fostering a secure, transparent, and compliant environment, BurjX aims to serve both institutional and retail clients by providing robust trading infrastructure and secure custody solutions for a wide range of virtual assets.
Looking Ahead
The full regulatory approval for BurjX marks a significant inflection point for the virtual asset landscape in the UAE and the broader MENA region. It sets a precedent for how digital asset platforms can operate with integrity and security, paving the way for greater institutional participation and investor confidence. As ADGM continues to attract leading fintech innovators, BurjX is poised to play a crucial role in shaping the future of regulated digital finance, contributing significantly to Abu Dhabi’s burgeoning digital economy and its position as a global financial hub.
Source: Fintech News Middle East
