Backpack Exchange has launched its European division, Backpack EU, which is now live and licensed under the EU’s MiFID II framework. This exchange aims to become one of the first fully regulated platforms in Europe to offer cryptocurrency derivatives, particularly perpetual futures. The launch follows Backpack's acquisition of FTX EU, with CEO Armani Ferrante noting that it will compete closely with Kraken in offering these products. The platform will offer over 40 trading pairs with up to 10x leverage to both retail and institutional traders, focusing on compliance and rebuilding trust in digital assets. Since its inception in 2024, Backpack has handled more than $160 billion in global trading volume and plans to expand its operations further, with Japan being the next target for licensing.

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