Backpack EU begins operations with CySEC-approved derivatives platform

Backpack EU, owner of the former FTX EU, launches a regulated perpetual futures platform in Europe after settling with the Cyprus regulator and securing a MiFID II license.

Backpack EU, the owner of FTX EU — the former European arm of the defunct exchange FTX — is launching operations after settling with the Cyprus Securities and Exchange Commission (CySEC).

Backpack EU, registered with the CySEC as Trek Labs Europe, announced on Monday the launch of its perpetual futures platform in Europe, the company told Cointelegraph.

“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,” Backpack CEO Armani Ferrante said.

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