Backpack Launches Regulated Perpetual Futures Exchange in Europe
- Backpack EU is now operational, licensed under the EU’s MiFID II framework.
- The exchange offers over 40 trading pairs with leverage up to 10x.
- CEO Armani Ferrante stated that Backpack and Kraken are the only platforms in Europe offering perpetual futures.
- Since its inception, Backpack has processed over $160 billion in global trading volume.
- The platform aims to restore trust in digital assets following previous exchange failures.
Backpack’s strategy includes a proof-of-reserves system that publishes daily attestations using zero-knowledge proofs, enhancing transparency for users. The launch follows Backpack’s acquisition of FTX EU and aims to provide a compliant gateway for both retail and institutional traders.
With over $160 billion in trading volume processed, Backpack EU seeks to establish itself as a leading regulated venue for crypto derivatives in Europe. (Source)
