Backpack Launches Regulated Crypto Derivatives Exchange in Europe Following FTX Acquisition
Backpack is now offering crypto derivatives in Europe, marking a significant step in the wake of its acquisition of FTX EU.
Backpack Exchange, a global cryptocurrency trading platform, announced that its European division, Backpack EU, has officially launched.
Key Highlights:
- Backpack is one of the first fully regulated platforms in Europe to offer crypto derivatives, beginning with perpetual futures.
- The exchange operates from Cyprus and adheres to the EU’s MiFID II regulatory framework.
In an interview, CEO Armani Ferrante stated, “As far as I’m aware, it’s just going to be us and Kraken in Europe offering perpetual futures.”
This launch comes after Backpack’s acquisition of FTX EU this year, resolving prior disputes over the transaction. Now, Backpack EU is committed to serving over 40 trading pairs with up to 10x leverage, aiming to provide a compliant entry point for both retail and institutional traders.
Ferrante emphasized the importance of rebuilding trust in digital assets following several exchange failures. “You give trust by doing good things every day over a long period of time. It’s compounded,” he noted.
Backpack has processed over $160 billion in global trading volume since 2024 and plans to expand into additional markets, including Japan.
