Few founders build two standout exchanges on two different continents. Omar Abbas, ex-RBC banker and co-founder of Canada’s NDAX, is doing just that—this time with BurjX, a regulated digital asset platform purpose-built for the Middle East. Backed by ADGM’s FSRA In-Principle Approval, BurjX offers bank-grade custody, AED fiat ramps, and a seamless experience for both retail and institutional users. Built natively in the UAE, it's setting a new benchmark for trust, compliance, and digital asset infrastructure in the region.
In this exclusive, Omar shares how BurjX plans to raise the bar for digital asset platforms in MENA—and why the next generation of crypto infrastructure must be built with regulation, resilience, and real utility at its core.
With the Middle East emerging as a global crypto hub, what unique advantages—and challenges—do you see in building digital asset infrastructure tailored for this region?
The Middle East is on the cusp of a transformational shift. A young, tech-native population, rising interest from sovereign wealth funds, and a bold regulatory vision – anchored by ADGM’s world-class framework – are positioning the UAE to become the global capital of crypto.
But something critical is still missing: infrastructure grounded in trust – platforms offering bank-grade custody, intuitive user experience, and the reliability that both everyday users and institutions expect.
That’s why we built BurjX. We saw the gap up close. Global platforms often treat MENA as an afterthought, while local ones haven’t kept pace with the rising demand for trust, scale, and sophistication.
So, we started from scratch – building in the UAE, for the world. A unified platform that brings regulated custody and seamless trading together under one roof. Not just another trading platform, but one built to scale, to last, and to lead.
As global markets reel from trust issues in crypto, how critical is regulation in restoring credibility—and what makes ADGM’s framework a model for the rest of the world?
Regulation isn’t just important – it’s foundational. In a market still reeling from high-profile collapses and turmoil, trust has become the most valuable currency in crypto. That’s where ADGM stands out. It has built the world’s first comprehensive virtual asset framework – one that combines regulatory clarity, institutional-grade oversight, and a deep understanding of the underlying technology.
This level of regulatory rigor is what separates hype from lasting progress – and it’s exactly the kind of discipline the industry needs to mature. Receiving In-Principle Approval from ADGM is more than a milestone for BurjX – it’s a clear signal that we meet the highest global standards in governance, risk management, and operational integrity. And it’s not just a standard we’re proud to meet – it’s one we’re here to set.
Bank-grade custody is a major promise of BurjX—what gaps do you believe currently exist in MENA’s institutional crypto offerings that you aim to solve?
There’s a fundamental trust gap in the region. While many platforms offer access to crypto, few provide the institutional-grade infrastructure required to safeguard serious capital. That’s why we built BurjX – with bank-grade custody at its core.
This isn’t just a tagline – it’s a standard we live by. We’ve integrated Fireblocks’ market-leading MPC technology to deliver multi-layer asset protection with no single point of failure, backed by both Fireblocks’ enterprise-grade insurance and our own comprehensive coverage. Underpinned by strict operational controls, multi-party approvals, and a robust governance framework, we’re delivering the level of custody infrastructure institutions expect – but until now, has remained out of reach in MENA.
And custody is just the beginning. We’ve paired it with seamless AED on / off-ramps, real-time risk oversight, and full alignment with ADGM’s gold-standard regulatory framework. Together, it’s a comprehensive foundation built not just to meet expectations, but to set a new benchmark. That’s what bank-grade means to us. And that’s what BurjX is here to deliver.
You recently secured In-Principle Approval from ADGM—how does this regulatory milestone shape BurjX’s strategy and influence your roadmap to full launch?
Securing In-Principle Approval from ADGM is a defining milestone – it validates the foundation we’ve built across technology, compliance, and governance.It’s more than a regulatory checkbox—it signals that BurjX meets top global standards and is built the right way. Strategically, it enables us to accelerate onboarding, scale operations, and deepen trust across the ecosystem.
BurjX isn’t here to blend in. We’re redefining what a digital asset platform should be: a next-generation brokerage and custody solution, designed in the UAE, built for the world, and anchored in trust, transparency, and regulatory strength. That’s the standard that shapes every step of our roadmap.
What makes BurjX different in a space crowded with global and regional exchanges—and how are you designing for trust, usability, and scale from Day 1?
What sets BurjX apart is precision and depth. We’ve engineered the platform from the ground up to serve the needs of retail, professional, and institutional users alike – starting with secure, bank-grade custody, seamless AED on/off-ramps, and a user experience that feels effortless without compromising control. Every layer, from our Fireblocks-backed architecture to our enterprise-grade insurance and built-in risk and control systems, has been purpose-built to earn trust and operate at scale.
Behind that foundation is a team with deep experience building financial platforms in some of the most heavily regulated financial jurisdictions – bringing the discipline, credibility, and execution needed to meet the expectations of institutions and serious market participants.
And because we’re born in the UAE, we’re not adapting a global product to fit the region – we’re building for it from the ground up, with the cultural, financial, and regulatory nuances in mind. That’s the edge offshore players will never have.
Looking ahead, how do you envision BurjX evolving to meet the rapidly growing needs of both retail and institutional players across the Middle East and North Africa?
BurjX is evolving into a full-stack digital asset financial institution – secure, compliant, and built to adapt. For retail users, that means an intuitive platform that demystifies crypto, offers broad asset coverage, and introduces diversified smart portfolios – modeled after the robo-advisor approach, but tailored for digital assets. For institutions, we’re focused on delivering deep liquidity, same-day settlement, and a white-glove execution experience tailored for professionals who demand speed, transparency, and trust.
Our vision is long-term: to build the category leader for digital assets in MENA, trusted as both a wealth management platform and a custodian of value. The opportunity in this region is massive, and we’re approaching it with focus and conviction.