Backpack Exchange announced the acquisition of FTX EU, reinforcing its position in the European crypto trading market.
Market Impact of the Deal
The acquisition enables Backpack Exchange to dominate the regulated cryptocurrency market in Europe, filling the void left by unregulated offshore exchanges.
Regulation and Compliance Standards
Backpack EU will comply with MiFID II regulations, demonstrating its commitment to high standards and restoring trust in the cryptocurrency market amid uncertainties following the FTX collapse.
Backpack EU's Plans and Offerings
Backpack EU is expected to launch in the first quarter of 2025, offering perpetual futures, crypto derivatives, and enhanced payment systems supporting instant transactions.
The acquisition of FTX EU marks a significant step for Backpack Exchange in expanding its European presence and rebuilding trust by adhering to regulatory standards.
