As you mentioned, stablecoins are increasingly being treated as part of the financial system rather than simply a trading tool. But in the UAE, moving money between dirhams and digital assets can still be slow and complicated. BurjX is trying to close that gap. I am joined today by Chadi Antonios, Director of BD and Partnerships at BurjX. Welcome to Capital Markets Wall Street to Mena.
Hi Rachel, thanks for having me.
BurjX is positioning itself as a UAE native bridge between conventional banking and digital assets. What is the single biggest friction point for a customer today? Is it trust, regulation, or simply moving money in and out of the market?
Honestly, five years ago the question was, is this legal? Today the UAE has answered that. The licences are real. What a client actually feels is the plumbing. They have stablecoins and they need dirhams in their bank account, and they want to know it lands today from someone they can call. The last mile is where trust is won or lost.
Stablecoins are increasingly described as financial infrastructure rather than merely a crypto trading tool. Where do you see the most credible demand: trading and settlement, cross-border payments, corporate treasury, or merchant payments?
The answer is instant. Do not say instant unless you can prove it on a Friday afternoon. What clients really want is certainty: same day into a bank account in their own name, and a human who confirms it. Under promise, and deliver on that promise. And explain to the client exactly what is happening, in detail.
The dirham leg of the crypto on-ramp can still be the bottleneck. A blockchain transaction may settle in seconds, but the dirham deposit, withdrawal, and screening can be slow and complex. What has BurjX done on its dirham on and off ramp through banking rails, and what lessons should others understand before promising instant crypto access?
Today, a dollar stablecoin goes to a bank, then becomes dirhams. If the dirham itself is on-chain and regulated, settlement gets simpler and faster for everyone. For us, it means sitting in the middle between USDC and the dirham token, moving between them.
If a credible, fully regulated stablecoin reaches scale, what changes first for BurjX and its clients: cheaper conversions, faster settlement, better treasury management, or something else entirely?
I think it is trust in particular. There are three questions we have to ask, and if they cannot answer them in one sentence, walk away. Who regulates you? Who is actually holding my crypto? And can I get my money back to my own bank account? Most people only ask the first one. The second one is the one that matters.
Some people still hear stablecoin and think risk. What should they demand before they trust any platform or token?
It is definitely who regulates you and who is actually holding your crypto. Trust is the most important thing, and you have to cross-check who you are dealing with. For us, having the licences we hold sets us apart from many. So trust is the word at the middle of this question.
If we had you back in a year’s time, what would be in your pipeline, whether in Abu Dhabi, the broader UAE, or the Middle East?
The pipeline and the focus is always very simple: crypto in, dirhams out, and we hold it. That is the whole job, done properly.
Excellent. Thank you so much for coming on the show. It is great what you are doing at BurjX and I hope to have you back in the future.
Thank you Rachel, I appreciate it.
