#Cryptocurrency #Cyprus #Nicosia #Backpack Exchange #FTX EU

Backpack EU Launches Regulated Perpetuals Trading for European Traders

In a significant move in the cryptocurrency landscape, Backpack Exchange has commenced operations for perpetual futures trading through its EU-based subsidiary. This fully regulated platform is aimed at European traders who are eager to explore innovative financial instruments while maintaining compliance with regional regulations.

A Promise Fulfilled

Backpack's journey into the European market comes on the heels of its acquisition of FTX EU Ltd in early 2025. Armani Ferrante, the CEO of Backpack, expressed, "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." This initiative serves as an important stepping stone for many former FTX customers, as Backpack EU assumes responsibility for accurately processing customer claims from the previous platform.

Embracing Regulatory Compliance

Operating under the MiFID II framework, Backpack EU is positioned to be a leader in regulated cryptocurrency trading within the region. The platform offers access to over 40 trading pairs with leverage options of up to 10x, catering to the needs of traders who seek advanced trading mechanisms in a secure environment. The regulatory compliance also reassures users that trading activities are conducted within a legally sound framework, reducing the risks traditionally associated with cryptocurrency exchanges.

Meeting Trader Needs

As global regulatory landscapes evolve, the demand for reliable and compliant trading venues has intensified. Ferrante emphasized, "We enter into the EU at a time when global regulators are providing clearer compliance frameworks, institutions are embracing crypto, and yet traders lack the regulated venues to meet the moment. Today, that changes." This sentiment echoes the calls from industry stakeholders for a structured approach to cryptocurrency trading, where compliance and innovation go hand in hand.

Future of Backpack EU

Backpack EU aims to not only provide a regulated trading environment but also to rebuild trust within the cryptocurrency space. This is particularly significant as the company has embraced its role in ensuring the safe return of funds to clients affected by earlier market upheavals. Currently, Backpack EU is registered under the Cyprus Securities and Exchange Commission (CySEC), highlighting its commitment to operating within strict regulatory guidelines.

The Backpack ecosystem, which is rapidly expanding, includes several innovations beyond basic trading. This encompasses the Backpack Wallet, known for its self-custodial features, and includes its active engagement within the NFT sector, particularly with the Mad Lads community on Solana. The platform has successfully gained traction, amassing over $170 billion in trading volume since 2024.

Conclusion

With the launch of Backpack EU, the organization sets a new benchmark for regulated cryptocurrency trading in Europe. This platform not only represents a new era for EU traders but also underscores the importance of compliance, innovation, and trust in facilitating the evolution of the digital asset industry. As Backpack UK embraces this regulatory environment, it looks forward to catering to the needs of European users and making substantial contributions to the cryptocurrency market.