Backpack EU Launches Regulated Perpetual Futures Trading Across Europe

Backpack EU, the successor to the defunct FTX EU, has officially launched a fully regulated perpetual futures trading platform in Europe under the MiFID II license granted by the Cyprus Securities and Exchange Commission (CySEC). Having acquired FTX EU earlier in 2025, Backpack EU has taken responsibility for refunding former FTX EU customers, aiming to restore trust in the crypto market after the collapse and legal consequences faced by FTX's founder, Sam Bankman-Fried. The platform offers over 40 trading pairs with up to 10x leverage, positioning itself alongside Kraken as one of the few European exchanges providing regulated crypto derivatives. Backpack EU operates as Trek Labs Europe Ltd and settled with CySEC by paying a €200,000 penalty for possible violations linked to FTX, which had its license suspended in 2022 following the parent company's collapse. CEO Armani Ferrante emphasized the launch as the start of a new era for regulated crypto trading in Europe, focusing on transparency, investor protection, and regulatory compliance amid tightening global rules on digital asset derivatives. The company plans to expand its product offerings while maintaining strict adherence to EU regulatory standards.