Backpack Exchange has finally launched Backpack EU as a rebrand of FTX EU. It intends to offer regulated perpetual futures in Europe through the new company.
By Parth Dubey
Editor Hamza Tariq
Updated
3 mins read
Backpack Exchange, a global cryptocurrency trading platform, took to X to announce the launch of its rebranded platform.
According to the post, Backpack EU is now live as one of the first exchanges to offer regulated perpetual futures in Europe.
It also stated that it is giving private beta access to only 100 users per day.
On September 8, Backpack Exchange announced that Backpack EU is now officially live.
This new development positions the company as one of the pioneers of the first fully regulated platforms in Europe to offer crypto derivatives.
Backpack EU is here 🎒🇪🇺
Today, we're live as one of the first exchanges to offer regulated perpetual futures in Europe.
Private Beta access is limited to 100 spots per day, every day.
Join the waitlist now: https://t.co/qvUDpbsEdQ pic.twitter.com/Xctp2MuZRl
— Backpack 🎒 (@Backpack) September 8, 2025
In its case, it plans to start with perpetual futures. Speaking about the novelty of Backpack’s move, Armani Ferrante, the company’s CEO said,
“As far as I’m aware, it’s just going to be us and Kraken” in Europe.
Going forward, Backpack EU will be charged with providing users with access to more than 40 trading pairs with up to 10x leverage.
The team behind the project noted that it was particularly established to give both retail and institutional traders a gateway to advanced crypto trading products. The project also emphasizes strict compliance with European regulations.
Generally, Backpack Exchange is keen on building a stellar reputation and helping investors to trust in digital currencies, especially after the failure of FTX and other exchanges.
Ferrante acknowledged that building trust may take a long time and the exchange’s “approach has always been to just try to get better every day and do the right thing at every step of the way.”
In January 2025, Backpack Exchange successfully completed the acquisition of FTX EU, the European arm of the collapsed Sam Bankman-Fried-led crypto exchange.
The entire process was finalized after it received approval from the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC).
The move was in alignment with Backpack Exchange’s goal of delivering secure and regulated trading services across the continent.
The acquisition also strengthened Backpack’s presence in Europe, with plans already underway to roll out a wider range of cryptocurrency derivatives, including perpetual futures, across the EU.
As soon as Backpack Exchange announced that FTX EU would be rebranded to Backpack EU, it also highlighted that it would solely handle the redistribution of customer funds. The entire rebranding exercise took almost nine months to complete.
Backpack Exchange has fulfilled its obligation to FTX EU customers even after the dispute that resulted from the sales of the exchange.
Initially, FTX Estate claimed the sale and press release may have occurred without its authorization or involvement. The dispute was later resolved, which allowed the pre-repayment process to begin.
In May, Backpack officially launched a withdrawal process for eligible FTX EU customers, requesting that they get verified and submit a withdrawal request in two steps. Eventually, the company debuted its claims verification process on April 1.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
