Backpack EU to supply crypto derivatives all through the European Union together with perpetual futures the place no regulated merchandise presently exist
HANOVER, Germany, Jan. 7, 2025 /PRNewswire/ — Backpack Alternate, a totally regulated international cryptocurrency change, right now introduced the profitable acquisition of FTX EU, the MiFID II-licensed former European arm of FTX. Authorised by the FTX chapter court docket and the Cyprus Securities and Alternate Fee (CySEC), this acquisition marks a significant milestone in Backpack’s international growth and dedication to delivering safe, regulated buying and selling options throughout Europe.
With the acquisition, Backpack’s new EU arm will supply a full suite of crypto derivatives all through the European Union together with perpetual futures, a market the place no regulated crypto derivatives presently exist, as unregulated offshore exchanges have been pressured to wind down their unlicensed European operations.
Armani Ferrante, CEO of Backpack Alternate, commented: “As many worldwide exchanges exit the European Union, changing into a MiFID II-licensed entity demonstrates our dedication to assembly the very best regulatory requirements and is a big step to bringing clear, safe, and controlled crypto buying and selling to an underserved European market.”
As a part of the acquisition, Backpack EU will undertake accountability for distributing the beforehand court-approved FTX chapter claims to FTX EU clients.
Mr. Ferrante additional famous, “Buyer restitution is a vital step to rebuild belief and confidence within the trade, and Backpack is dedicated to returning FTX EU clients’ funds as quick and as safely as attainable.”
Along with compliant product choices, Backpack EU will present seamless integration with conventional fee rails together with on the spot, low-cost Single Euro Funds Space (SEPA) funds and wire transfers in main currencies throughout the area.
The re-activation of the license is underway, with plans for Backpack EU to go dwell in Q1 of 2025. Additional info as to how new customers could join Backpack EU and the way FTX EU clients will have the ability to entry their belongings shall be introduced because it turns into out there. For extra info, go to https://eu.backpack.change/declare.
About Backpack Alternate
Backpack Alternate is a totally regulated international cryptocurrency change constructing an progressive, easy-to-use and compliant buying and selling platform for each skilled and new web3 customers worldwide. Backpack presently serves customers from over 150 nations and areas with greater than $60 billion in buying and selling quantity.
The Backpack ecosystem contains a number of services and products, together with the favored Backpack Pockets (noncustodial), Backpack Alternate, and Mad Lads, the highest NFT group within the Solana ecosystem.
X https://x.com/Backpack
Photograph – https://mma.prnewswire.com/media/2590963/Backpack_EU.jpg
View unique content material:https://www.prnewswire.co.uk/news-releases/backpack-announces-acquisition-of-ftx-eu-expands-crypto-trading-across-europe-302342778.html
Featured Picture: depositphotos @ burdun
Disclaimer
