Backpack Exchange, a prominent player in the crypto world, announced its acquisition of FTX EU, the European division of the now-defunct FTX Exchange. This strategic acquisition received approvals from the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), cementing Backpack Exchange's intentions to dominate the regulated crypto trading market in Europe.
With this acquisition, Backpack Exchange plans to introduce innovative crypto products to European users, enhancing its footprint in the competitive crypto landscape. This marks a significant step in its ongoing global expansion strategy, aiming to capitalize on the regulated markets.
