UAE digital asset broker, BurjX, has received In-Principle Approval (IPA) for a license in the UAE from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM).

This is the prelude to the full Financial Services Permission (FSP) that will allow BurjX to operate as a fully regulated, institutional-grade trading and custody platform.

“This is an exciting step forward – not just for BurjX, but for crypto in MENA as a whole,” said Omar Abbas, Co-Founder & CEO of BurjX. “Secure, institutional-grade custody is the foundation of a trusted trading platform, and the MENA region is ready for it. As BurjX moves toward final regulatory approval, we are reimagining crypto trading – seamlessly integrating cutting-edge security with a frictionless trading experience in a single, unified platform.”

Adam Ferris, Co-Founder & Chairman of BurjX, underscored the company’s vision, “This milestone is just the beginning. 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. BurjX is shaping the future of responsible digital asset trading.”

With final regulatory approval on the horizon, BurjX is preparing to launch later this year, bringing a full suite of digital asset trading and custody solutions to market. Designed for retail, professional, and institutional traders, the platform provides secure fiat on/off-ramps, deep liquidity, and advanced execution tools all within a tightly governed and fully compliant framework.

For security BurjX has partnered with Fireblocks leveraging its multi party computation technology and security protocols, and for peace of mind, it has secure market leading insurance coverage.

One of the first crypto exchanges to be licensed out of ADGM was M2, and today in Dubai VARA boasts of 30 licensed VASP providers. The UAE has become a hot bed for licensed digital asset, tokenization and crypto service providers.