In a significant move for the cryptocurrency sector, Backpack, a globally compliant digital asset exchange, has finalized its acquisition of FTX EU, as confirmed by official statements on April 1st. This acquisition marks a pivotal step in the recovery of assets for users previously impacted by FTX’s challenges. Effective immediately, Backpack EU is set to launch an asset recovery initiative, which will facilitate the return of frozen fiat assets to original FTX EU customers, ensuring a streamlined process for impacted users.
Furthermore, the reinstatement of the FTX EU license will enable Backpack to offer an extensive range of cryptocurrency derivative trading services throughout the European Union. This strategic development underscores Backpack’s commitment to fostering a secure and compliant trading environment, ultimately enhancing investor confidence in the evolving landscape of digital assets.