Backpack Exchange Acquires FTX EU to Expand Crypto in Europe
Backpack Exchange, a fully regulated global cryptocurrency platform, today announced it has completed the acquisition of FTX EU, the European subsidiary of collapsed cryptocurrency exchange FTX. The deal has been approved by the FTX bankruptcy court and Cyprus Securities and Exchange Commission (CySEC), in what is seen as a critical milestone in the expansion of the business in Europe.
FTX EU was licensed earlier under MiFID II – Europe’s finance markets regulation the acquisition brought this license within the control of Backpack. After the acquisition, Backpack will enable the trading of a wide assortment of crypto derivatives-including perpetual futures across Europe.
Regulated crypto derivatives have been scarce on the…
