Backpack EU Launches: From FTX's Ashes to Regulated Futures

Backpack EU rises from the acquisition of FTX EU, offering regulated perpetual futures in Europe. A new chapter in crypto trading begins.

Backpack EU is making waves in the crypto world! After acquiring FTX EU, they're launching a regulated platform for perpetual futures in Europe. It's a fresh start, offering traders a secure and compliant environment.

Backpack EU: A New Beginning

Backpack Exchange, now Backpack EU, is officially live, marking a significant milestone in the European crypto landscape. This launch positions them as pioneers, offering fully regulated crypto derivatives. CEO Armani Ferrante pointed out that only Backpack and Kraken have been approved to offer these products in Europe.

With Backpack EU, users gain access to over 40 trading pairs with up to 10x leverage. The platform is designed for both retail and institutional traders, emphasizing strict compliance with European regulations. This is about rebuilding trust in digital currencies after the failure of FTX and other exchanges.

From FTX EU to Backpack EU: A Rocky Road

The journey wasn't easy. Backpack Exchange successfully acquired FTX EU in early 2025, after getting the green light from the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC). This move aligned with Backpack's mission to provide secure and regulated trading services across Europe.

Backpack also took responsibility for redistributing customer funds from the former FTX EU. The rebranding took nine months, but Backpack kept its promise to make the customers whole.

Compliance and Expansion

Backpack EU's launch of perpetual futures is authorized under the Markets in Financial Instruments Directive (MiFID II), granted by CySEC. The CySEC reissued the MiFID II license to Trek Labs Europe in June 2025, after Backpack settled with the regulator for possible violations linked to FTX.

Beyond Europe, Backpack is expanding globally, securing a virtual asset service provider (VASP) license in Dubai and joining the Japan Virtual Currency Exchange Association. It's all about making crypto accessible and secure worldwide.

What's Next?

Backpack EU's launch is a testament to resilience and innovation in the crypto space. It's a new chapter for European crypto trading, offering a regulated and secure platform for all. If you're looking for a reliable place to trade crypto derivatives, Backpack EU might just be your next destination.

So, keep your eyes peeled and maybe pack your bags (pun intended) for a trip to the future of finance!