Backpack acquires FTX EU, gaining access to the MiFID II license from CySEC to offer regulated cryptocurrency derivatives in the EU and promises to return funds to affected FTX EU clients 💼

Backpack, a cryptocurrency exchange founded by former FTX executives, has acquired the European arm of FTX, FTX EU. This grants the company access to the MiFID II license from CySEC, enabling the offering of regulated cryptocurrency derivatives, including perpetual futures, within the EU. In the coming months, the integration of traditional payment systems such as SEPA and bank transfers will be implemented for user convenience. Additionally, Backpack will focus on returning funds to FTX EU clients who were affected by the platform's bankruptcy and restoring trust in the cryptocurrency market.