Backpack Exchange Launches Regulated Perpetual Trading in Europe
Backpack Exchange Launches Regulated Trading in the EU
Backpack Exchange, a fully regulated global cryptocurrency platform, is excited to announce its recent launch of perpetual futures trading within the European Union. This significant development comes from its European subsidiary, ushering an era of compliant and innovative trading experiences for European users who are eager to explore the dynamic world of crypto.
The Acquisition of FTX EU Ltd
Earlier this year, Backpack made headlines with its strategic acquisition of FTX EU Ltd, which has empowered Backpack EU to take responsibility for managing and distributing FTX EU customer claims. This crucial move paves the way for Backpack to offer regulated trading options and fulfill its commitment to support users transitioning from the acquired platform.
Exciting Opportunities for European Traders
European traders can now easily sign up to start trading perpetual futures directly through Backpack’s compliant platform. With a strong regulatory framework in place, the exchange enables a safe and secure environment for trading, designed to meet the increasing demand for reliable avenues within the cryptocurrency landscape.
CEO Armani Ferrante's Vision
Armani Ferrante, CEO of Backpack, expressed enthusiasm about their journey into the EU market. He stated, "After fulfilling our promise to refund former FTX EU customers, we commence our journey to provide one of the first fully regulated crypto-derivatives platforms in the EU, starting with perpetual futures." His words underline Backpack's commitment to making a positive impact in the lives of traders and consumers within the region.
Advanced Trading Features
Operating under a MiFID II license, Backpack EU stands out in the sector by offering a fully licensed crypto-derivatives trading platform. Traders can benefit from access to regulated perpetual futures, along with advanced trading tools and resources, currently supported by over 40 trading pairs and leveraging options of up to 10x.
About Backpack EU
Trek Labs Europe Ltd, doing business as Backpack EU, is a Cyprus-registered entity authorized by the Cyprus Securities and Exchange Commission (CySEC) under license number 273/15. This enables them to provide investment services compliant with MiFID II regulations. Backpack EU represents the European arm of Backpack Exchange, a globally recognized cryptocurrency trading platform.
With an unwavering commitment to rebuilding trust within the digital asset space, Backpack EU diligently ensures the safe return of funds to former FTX EU clients, which has been a pivotal mission since their acquisition.
Global Reach of Backpack
Backpack operates in various jurisdictions worldwide, successfully serving over 150 countries and regions with an impressive trading volume exceeding $170 billion since 2024. Through its substantial network, Backpack is not just a trading platform, but a comprehensive ecosystem that incorporates several products and services.
The Backpack Ecosystem
Within this ecosystem, users can explore offerings such as the Backpack Wallet—a self-custodial wallet—and Backpack Exchange. Additionally, it plays host to the renowned NFT community, Mad Lads, actively engaging within the Solana ecosystem.
Looking Ahead
As Backpack EU gears up for an impactful presence in the European cryptocurrency landscape, their dedication to user safety, regulatory compliance, and innovative trading options continues to resonate within the community. Thousands of traders are gearing up for what they anticipate as a game-changer in crypto trading.
Frequently Asked Questions
What new trading features does Backpack EU offer?
Backpack EU provides access to regulated perpetual futures trading along with over 40 trading pairs and up to 10x leverage.
How has Backpack EU formed its regulatory foundation?
Backpack EU operates under a MiFID II license, managed by the Cyprus Securities and Exchange Commission (CySEC).
What is the mission of Backpack EU?
The mission is to provide a safe and reliable trading environment for users while ensuring the return of funds to former FTX clients.
In how many countries does Backpack operate?
Backpack serves over 150 countries and regions, highlighting its broad global reach in the cryptocurrency sector.
Is Backpack's trading platform compliant with regulations?
Yes, Backpack's trading platform is fully regulated and compliant, focusing on user safety and robust trading opportunities.
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