Backpack Aims to Lead E.U.’s Regulated Crypto Derivatives Market with Upcoming Launch
Backpack Exchange is set to expand its presence in the European Union (E.U.) cryptocurrency market, following its acquisition of FTX EU. The deal, approved by the Cyprus Securities and Exchange Commission (CySEC) and the FTX bankruptcy court, enables Backpack to relaunch the MiFID II-licensed entity as Backpack EU, with plans to offer a full suite of regulated crypto derivatives later in the first quarter of 2025.
This expansion comes as Europe grapples with a scarcity of regulated providers in the crypto derivatives space. Backpack’s entry, alongside competitors like Coinbase, Bitstamp, and the Netherlands-based D2X, could provide much-needed alternatives to unregulated offshore exchanges like…
