Backpack EU Relaunches Regulated Crypto Futures Platform in Europe
Backpack EU, the entity that acquired the former European arm of the defunct FTX exchange, has officially launched a regulated perpetual futures platform in Europe. Operating under the name Trek Labs Europe, the company announced this development following a settlement with the Cyprus Securities and Exchange Commission (CySEC) and the reissuance of a Markets in Financial Instruments Directive (MiFID II) license.
Regulatory Settlement and Licensing
Backpack EU resolved previous regulatory issues with CySEC by paying a fine totaling €200,000 ($235,000) related to possible violations connected to the FTX collapse. This settlement facilitated the reissuance of the MiFID II license to Trek Labs Europe in June 2025, enabling the company to operate legally within the European financial regulatory framework.
CySEC had suspended FTX EU’s Cyprus investment firm license in November 2022 following the global parent company’s collapse. Since acquiring FTX EU in early 2025, Backpack EU has taken responsibility for distributing refunds to former customers, fulfilling a key commitment ahead of its platform relaunch.
Launching One of Europe’s First Fully Regulated Crypto Derivatives Platforms
Backpack’s CEO, Armani Ferrante, emphasized the company’s intention to offer one of the first fully regulated crypto derivatives platforms in Europe, starting with perpetual futures contracts. This move aims to restore trust and compliance in a market segment that has faced significant regulatory scrutiny.
The launch marks a significant step for Backpack EU as it seeks to establish a compliant and transparent presence in the European cryptocurrency derivatives landscape.
This story is ongoing, and updates will be provided as more information becomes available.
FinOracleAI — Market View
Backpack EU’s relaunch of a CySEC-regulated perpetual futures platform under a MiFID II license is a positive development for the European crypto derivatives market, signaling increased regulatory compliance and investor protection. The settlement with CySEC reduces regulatory uncertainty, though reputational risks linked to the FTX legacy remain. Market participants should monitor customer adoption rates and regulatory responses from other European jurisdictions to gauge the platform’s growth potential.
Impact: positive
