Backpack Exchange has officially launched Backpack EU (formerly FTX EU Ltd), offering compliant perpetual contract trading to European users. Currently, it supports over 40 trading pairs with a maximum leverage of 10x. Backpack reportedly acquired FTX EU Ltd earlier this year and has been responsible for allocating claims for FTX EU customers since May.

Backpack EU has been granted a MiFID II license by the Cyprus Securities and Exchange Commission (CySEC), becoming one of the first fully licensed crypto derivatives trading platforms in the European Union.