License Details and Business Scope
Backpack EU officially announced it has secured a comprehensive European license. The authorization covers a wide spectrum of financial services, including securities dealing, crypto spot trading, perpetual contracts, and payment processing. This enables Backpack EU to offer regulated multi-asset crypto services across the European Economic Area, strengthening its competitive position in the region.
Strategic Significance and Global Reach
The company noted that it has been operating in Europe for over three years, accumulating substantial regulatory experience. Notably, Backpack played a key role in the compensation efforts for FTX Europe users, a process that enhanced its credibility with European regulators and provided hands-on expertise in handling complex compliance matters. Backpack stated that its European compliance framework will serve as a reference for upcoming license applications in Japan, South Korea, and the United States, accelerating its global regulatory roadmap. This development also highlights the ongoing convergence between the crypto industry and traditional financial regulation.