The leading crypto platform, Backpack Exchange, said it has acquired FTX EU, the European arm of the defunct FTX Exchange. This acquisition, approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), reflects the exchange’s move to dominate Europe’s regulated crypto trading market. Notably, the exchange plans to offer innovative products, including crypto derivatives, across the European Union by early 2025.
Backpack Exchange Buys FTX EU
Backpack Exchange announced that it has completed the acquisition of FTX EU, aiming to fill the gap left by unregulated offshore exchanges exiting Europe. As a MiFID II-licenced entity, the new Backpack EU will focus on transparency and compliance to the region’s underserved crypto sector. Besides, the exchange eyes to bring perpetual futures through this acquisition, marking a significant milestone in the EU’s crypto space.
Backpack CEO Armani Ferrante lauded the acquisition, saying that this move would ens
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