In a groundbreaking move for the European cryptocurrency market, Backpack EU, the owner of the former FTX EU, has launched a regulated perpetual futures platform. This milestone comes after the company settled with the Cyprus Securities and Exchange Commission (CySEC) and secured a Markets in Financial Instruments Directive (MiFID II) license.
Backpack EU: A New Chapter in Regulated Crypto Trading
As the cryptocurrency space evolves, regulatory compliance remains a crucial factor for platforms looking to establish trust among users. Backpack EU, registered with CySEC as Trek Labs Europe, took significant steps to ensure compliance by resolving regulatory issues linked to the collapse of FTX, its predecessor.
According to Armani Ferrante, the CEO of Backpack, “After fulfilling our promise to refund former FTX EU customers, we commence our journey to provide one of the first fully regulated crypto derivatives platforms in Europe, starting with perpetual futures.” This marks a pivotal moment for the company as it transitions from the turbulent legacy of FTX EU to becoming a trailblazer in the regulated crypto space.
The Path to Launch
Backpack EU acquired FTX EU in early 2025, taking responsibility for managing and distributing claims to former customers impacted by FTX’s collapse. In June 2025, CySEC reissued the MiFID II license to Trek Labs Europe after the company settled with the regulator, including a payment of €200,000 ($235,000) for alleged regulatory violations.
This reauthorization allowed Backpack EU to build a fully compliant trading platform, with perpetual futures being the first of many products planned for rollout in the European market. The announcement signifies a new era for cryptocurrency enthusiasts in Europe, offering a secure and regulated avenue for trading.
What Are Perpetual Futures?
Perpetual futures are a form of derivative trading that allows investors to speculate on the price of an asset without an expiry date. This means that traders can hold their positions indefinitely, making it a popular choice for seasoned investors. The launch of this feature by Backpack EU sets the company apart as one of the few platforms offering such services with full regulatory approval in Europe.
Why Regulatory Compliance Matters
The collapse of the global FTX platform in 2022 caused widespread disruptions, highlighting the importance of regulatory oversight in the cryptocurrency market. By adhering to MiFID II standards, Backpack EU aims to rebuild trust among investors and set a benchmark for other crypto platforms to follow.
For individuals looking to explore the world of crypto trading, using regulated platforms like Backpack EU ensures increased security and transparency. If you’re gearing up to dive into crypto trading, ensure you have the right tools at your disposal. Products like the Ledger Nano X Crypto Wallet can help you securely store your assets while navigating this exciting market.
Conclusion
Backpack EU’s launch of a regulated crypto derivatives platform marks a significant advancement for the European cryptocurrency ecosystem. With a focus on compliance and innovation, the platform provides a reliable option for traders seeking to engage in futures trading. If this marks the beginning of a new chapter in regulated crypto trading, then the future of digital asset investment in Europe looks bright.
