BurjX, a digital asset trading platform established in the UAE, has received licensing from the Financial Services Regulatory Authority (FSRA) at the Abu Dhabi Global Market (ADGM) for both brokerage and custody services. The platform has announced a collaboration with Fireblocks to enhance its trading and custody processes. Fireblocks offers an enterprise platform that supplies blockchain-based infrastructure solutions tailored for digital assets.
In light of the alarming $2.17 billion in cryptocurrency theft reported in the first half of 2025, alongside only 22 percent of exchanges providing complete insurance, BurjX aims to assert its dominance in security measures. The platform merges Fireblocks’ robust digital asset infrastructure with extensive insurance coverage from Relm Insurance, a specialist in the digital asset industry.
With a technological foundation capable of processing one million transactions per second, BurjX emphasizes speed, scalability, and security in its operations. Fireblocks’ MPC (multi-party computation) wallet technology is central to its custody framework, ensuring that private keys remain secure and preventing single points of failure. Furthermore, every transaction benefits from role-based access controls, automated policy enforcement, and multi-layered authorization processes.
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“BurjX is entering the landscape with a strong focus on regulatory compliance and a security-first approach,” stated Stephen Richardson, Chief Strategy Officer at Fireblocks. “We are proud to support BurjX with the MPC wallet infrastructure that facilitates secure operations, instilling confidence and control as the digital asset ecosystem in the UAE expands.”
To ensure compliance, BurjX has also integrated Notabene for adherence to Travel Rule regulations and partnered with Chainalysis to oversee on-chain transactions, thereby complying with international AML standards.
“All digital asset custody services at BurjX, ranging from hot wallets meant for active trading to cold wallets intended for secure long-term storage, are backed by Fireblocks’ infrastructure,” remarked Omar Abbas, co-founder and CEO of BurjX. “This structure grants our users assurance that their assets are safeguarded by top-tier security, fully insured, and in congruence with some of the world’s most stringent regulatory frameworks.”
The platform’s cohesive security strategy encompasses insurance for both hot and cold wallets, providing comprehensive protection against internal and external threats. By fusing secure custody with substantial liquidity and quick execution on a single unified platform, BurjX aims to offer a reliable and transparent digital asset trading experience for retail and institutional users in the UAE and beyond.