Blockchain firm Backpack Exchange has completed the acquisition of the European branch of FTX, opening new opportunities for crypto trading within the European Union.
Acquisition of FTX EU and Its Significance
The purchase of FTX EU by Backpack Exchange, approved by both CySEC and U.S. courts, marks an important expansion step for Backpack in the European market.
Backpack’s Strategic Plans in Europe
The firm aims to provide comprehensive crypto-derivatives trading services in the EU, including perpetual futures, which have not been available in this market up until now.
Integration of Traditional Financial Systems
Backpack plans to integrate SEPA support for faster, cost-effective transactions, making the transition between traditional assets and cryptocurrencies smoother for users.
With the new licensing agreement, Backpack is set to become the first regulated platform for crypto trading in the EU, offering a wide range of financial products.
