Backpack Exchange has strategically expanded its operations into the European Union, launching regulated derivatives trading for users across the bloc. This significant move, focusing initially on perpetual futures, positions Backpack as a compliant platform in a market increasingly demanding stringent regulatory oversight for digital asset services. The expansion builds on Backpack’s earlier acquisition of FTX EU Ltd, signaling a deliberate effort to capture market share through robust, licensed offerings.
The newly introduced service operates under a MiFID II license, a key European directive governing financial instrument markets. Backpack EU provides access to over 40 trading pairs, allowing for leverage up to 10x. This framework is designed to offer European traders sophisticated financial instruments while adhering to the continent’s established regulatory standards, crucial for fostering trust and institutional participation in the digital asset space.
A cornerstone of this market entry was the acquisition of FTX EU Ltd in early 2025. This strategic purchase went beyond a mere asset transfer, encompassing a commitment by Backpack to process asset recovery requests for former FTX EU clients, a process that commenced in May 2025. This action underscores a broader industry effort to restore confidence and accountability following prior market disruptions, distinguishing Backpack as a firm committed to client redress and regulatory compliance.
Armani Ferrante, CEO of Backpack, highlighted the opportune timing of the launch. He noted the current environment features evolving global regulatory frameworks, increasing institutional adoption of cryptocurrencies, and a persistent demand among traders for fully regulated platforms. This convergence, according to Ferrante, creates a compelling window for Backpack to establish itself as a leading, compliant crypto derivatives provider in Europe.
Beyond its derivatives offering, Backpack has demonstrated a broader engagement with the post-collapse crypto landscape. In July 2025, the platform introduced a service enabling direct trading of claims against the bankrupt FTX exchange. This initiative further solidifies Backpack’s role in facilitating structured access to and recovery from complex digital asset situations, aligning with its emphasis on regulated and transparent market participation.
Maxwell Reed is the first editor of Cryptovista360. He loves technology and finance, which led him to crypto. With a background in computer science and journalism, he simplifies digital currency complexities with storytelling and humor. Maxwell began following crypto early, staying updated with blockchain trends. He enjoys coffee, exploring tech, and discussing finance’s future. His motto: “Stay curious and keep learning.” Enjoy the journey with us!