Backpack EU, operating under its registered name Trek Labs Europe, is launching its crypto perpetual futures platform in Europe after settling regulatory issues with CySEC.
Backpack EU, owner of the former FTX EU, launches a regulated perpetual futures platform in Europe after settling with the Cyprus regulator and securing a MiFID II license.Backpack EU, the owner of FTX EU — the former European arm of the defunct exchange FTX — is launching operations after settling with the Cyprus Securities and Exchange Commission .
with the CySEC as Trek Labs Europe, announced on Monday the launch of its perpetual futures platform in Europe, the company told Cointelegraph. “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 Europe, starting with perpetual futures,” Backpack CEO Armani Ferrante said.Backpack’s FTX EU acquisition story The launch of Backpack EU marks a new chapter in the complex history of FTX EU, which was founded in Switzerland in 2020 under the original name Digital Assets AG .back to its founders for $32.7 million in February 2024, who then sold the business to Backpack in early 2025.“A lot of people questioned me and our team for FTX ties,” Ferrante wrote on X on Monday, stressing that Backpack unsuccessfully attempted to acquire FTX EU before 2025.“Some people think we’re making our lives harder than they have to be by doing all of this. But it’s precisely the hard things that no one wants to do that are worth doing,” he said, adding: “This year, we set our sites not just on Europe, but later to Japan, and ultimately our home, the USA. We’ve come a long way, but we have an even longer way to go. Every day. Little by little. Brick by brick.”a virtual asset service provider license for exchange services from the Dubai Virtual Assets Regulatory Authority in October 2023.the Japan Virtual Currency Exchange Association as a Type 2 member, which paved the way for entry into the Japanese crypto market.BTC dip predictions fall below $90K: 5 things to know in Bitcoin this week
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Backpack Opens Regulated Perpetuals Exchange in Europe After Buying FTX EUOperating out of Cyprus and licensed under the European Union’s MiFID II framework, the exchange is positioning itself as one of the first fully regulated venues in Europe to offer crypto derivatives, starting with perpetual futures.
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